IBM本季度业绩超预期：每股收益2.95美元、营收171亿美元均高于预期，自由现金流30亿美元超过预期的26.3亿美元，此前推迟的大型机交易也已完成。公司重申按固定汇率计算营收增长4%-5%的指引，使前景更为乐观，但IBM必须守住其客户导入时间表。
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但我想跳到IBM这里，因为我们还有不少财报要过。这里也看到上涨6.5%。这是因为他们的每股收益（EPS）好于预期，达到295。预期是2.86美元。同比增长11.32%。
but I want to jump to IBM here because we do have quite a few earnings to get through. Also seeing a move to the upside here of 6 and a half% right now. Uh that's because their EPS came in better than expected at 295.
The expectation was for $2.86. It's up 11.32% year-over-year.
营收增长近5%，达到171亿，这也超过了168.3亿的预期。他们的软件营收增长超过8%，达到78亿美元。这也超出了预期。
Revenue is up almost 5% to 17.1 billion. and that also topped the expectations for 16.83. Their software revenue grew more than 8% to $7.8 billion. That also beat the expectations.
基础设施业务增长4.2%，达到37.1亿。这高于35.7亿美元的预期。
Infrastructure rose 4.2% to 3.71 billion. That was above the $3.57 billion estimate.
咨询业务也达到53.4亿。这略低于53.9亿美元的预期。但自由现金流也是这份财报中的一大亮点。30.03亿。这远高于26.3亿美元的预期。很多投资者想看到这种盈利增长转化为现金生成。而这一超预期对IBM来说意义重大。
Consulting also came in at 5.34 billion. That was slightly below the $5.39 billion estimate, but free cash flow a standout in this report as well. 3.0 03 billion. That's well above the $2.63 billion estimate.
And a lot of questions investors wanting to see that earnings growth translating into cash generation here. And that beat significant for IBM.
第二季度推迟的大型机和关联软件交易中，约有三分之二在第三季度完成了。公司表示，IBM还表示对剩余的大部分交易持乐观态度。这来自首席财务官Jim Kavanaaugh。
About twothirds of the mainframe and association software deals that slipped in the second quarter closed during the third quarter. The company is saying IBM also saying it's optimistic about most of the remainder. Uh that's coming from CFO Jim Kavanaaugh.
他们还重申了按固定汇率计算全年营收增长4%至5%的预测，与市场一致预期相符。但我们看到这里出现了4%的不错上涨。KG，IBM这里最让你关注的是什么？
They also reaffirmed its fullear constant currency revenue growth forecast of 4 to 5% in line with the consensus number there. But we're seeing a a nice pop to the upside here of 4%.
You know, KG, what's uh what's standing out to you most here for IBM?
你基本上已经点出来了。那些推迟的交易现在某种程度上反映在了这个季度里。但他也强调，净新增交易中那75%的高点仍然是他们未来几个季度所期待的。所以不仅是递延的销售，他们还能为本季度回填一部分订单流。这就是你看到略微更乐观的原因。
>> Well, you kind of highlighted it. the the delayed deals are now kind of being reflected in this quarter. But he also highlighted that 75% of the net new deals uh of that high is still something that they are looking forward to uh in the coming quarters as well.
So it's not only the deferred sales, but they were able to kind of backfill some of that order flow as well for this current quarter. And that's where you get a little bit more optimistic.
对他们来说，关键将是在引入这些客户、让这些交易最终落地方面能否坚持自己的时间表。但这是一份相当不错且强劲的财报。我的意思是，如果你看可比公司的年度软件营收增长……
the big key for them is going to be able to stick to their timeline when it comes to onboarding these customers and these clients and and getting these deals across the finish line here.
But a pretty good and strong report. I mean, if you're looking at the the comp's annual uh software revenue growth of
是的，一些清晰度和可见性帮助促成了IBM这5.2%的上涨。
Yeah, some clarity and some visibility helping contribute to this 5.2% move to the upside for IBM.
观察点
这个频道对 $IBM 的历次判断
Schwab Network 在这只股票上共 3 条判断，这里只列相邻的几条。