Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Income Statement
Quarterly Data

International Business Machines Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Services 7,483 7,454 7,405 7,471 7,760 7,541 7,553 7,524 7,497 7,366 7,640 7,703 7,677 7,251 7,201 7,096 11,513 11,180 10,937 11,374
Sales 9,902 7,334 8,196 6,799 9,449 7,025 7,739 6,532 9,021 6,565 7,748 6,339 8,844 5,814 6,808 5,880 8,565 6,106 6,918 5,895
Financing 168 180 169 192 172 186 183 196 173 176 147 155 173 186 209 211 288 274 268 302
Revenue 17,553 14,968 15,770 14,462 17,381 14,752 15,475 14,252 16,691 14,107 15,535 14,197 16,694 13,251 14,218 13,187 20,366 17,560 18,123 17,571
Services (5,114) (5,049) (5,127) (5,240) (5,229) (5,217) (5,294) (5,311) (5,146) (5,168) (5,399) (5,349) (5,132) (4,650) (4,721) (4,644) (7,683) (7,357) (7,520) (7,844)
Sales (1,911) (1,404) (1,607) (1,381) (1,799) (1,419) (1,587) (1,322) (1,820) (1,389) (1,750) (1,415) (1,943) (1,363) (1,499) (1,379) (1,970) (1,601) (1,739) (1,624)
Financing (89) (95) (86) (99) (86) (93) (93) (110) (93) (120) (96) (98) (118) (132) (146) (137) (190) (172) (164) (181)
Cost (7,114) (6,548) (6,820) (6,720) (7,114) (6,729) (6,974) (6,743) (7,059) (6,677) (7,245) (6,862) (7,193) (6,145) (6,366) (6,160) (9,843) (9,130) (9,423) (9,649)
Gross profit 10,439 8,420 8,950 7,742 10,267 8,023 8,501 7,509 9,632 7,430 8,290 7,335 9,501 7,106 7,852 7,027 10,523 8,430 8,700 7,922
Selling, general and administrative (4,865) (4,911) (4,938) (4,974) (4,792) (4,458) (4,900) (4,853) (4,766) (4,391) (4,855) (4,597) (4,902) (4,306) (4,849) (4,688) (7,232) (4,647) (5,248) (5,955)
Research, development and engineering (1,967) (1,876) (1,840) (1,796) (1,748) (1,685) (1,687) (1,655) (1,604) (1,611) (1,673) (1,679) (1,625) (1,606) (1,641) (1,616) (1,611) (1,515) (1,582) (1,625)
Intellectual property and custom development income 301 238 241 216 242 190 248 180 245 121 176 121 180 153 133 146 173 134 203 116
Operating income 3,908 1,871 2,413 1,188 3,969 2,070 2,162 1,181 3,507 1,549 1,938 1,180 3,154 1,347 1,495 869 1,853 2,402 2,073 458
Other income and (expense) (178) (2,244) 233 318 195 215 261 244 118 (5,755) 81 (246) 19 (244) (303) (345) (249) (252) (179) (181)
Interest expense (424) (429) (427) (432) (405) (412) (423) (367) (313) (295) (297) (311) (304) (290) (281) (280) (316) (323) (323) (326)
Income (loss) from continuing operations before income taxes 3,306 (802) 2,219 1,074 3,759 1,873 2,000 1,058 3,312 (4,501) 1,722 623 2,869 813 911 244 1,288 1,827 1,571 (49)
(Provision for) benefit from income taxes (379) 485 (389) 501 (474) (159) (419) (124) (443) 1,287 (257) 39 (407) 224 (101) 159 (24) (128) (209) 1,225
Income (loss) from continuing operations 2,927 (317) 1,830 1,575 3,285 1,714 1,581 934 2,869 (3,214) 1,465 662 2,462 1,037 810 403 1,264 1,699 1,362 1,176
Income (loss) from discontinued operations, net of tax (13) (13) 4 30 3 (10) 2 (7) (159) 18 (73) 71 (129) 93 515 552 92 (1) (1) (1)
Net income (loss) 2,914 (330) 1,834 1,605 3,288 1,704 1,583 927 2,710 (3,196) 1,392 733 2,333 1,130 1,325 955 1,356 1,698 1,361 1,175

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. International Business Machines Corp. revenue decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. International Business Machines Corp. operating income decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Income (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. International Business Machines Corp. income (loss) from continuing operations before income taxes decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. International Business Machines Corp. net income (loss) decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.