International Business Machines Corporation

NYSE-IBM

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Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	16,331	16,977	14,542	17,554	14,968	15,770
Total Revenues %Chg	9.1%	7.7%	0.6%	1%	1.5%	1.9%
Services
Sales
Financing
Other
Software
Consulting
Infrastructure
Systems
Cost of Sales	6,970	7,001	6,510	7,114	6,548	6,820
Services
Sales
Financing
Gross Profit	9,360	9,977	8,031	10,439	8,420	8,950
Gross Profit
Gross Profit Margin	57.3%	58.8%	55.2%	59.5%	56.3%	56.8%
Selling, General & Administrative Expenses	4,748	5,027	4,886	4,865	4,911	4,938
Selling, General and Administrative
Research & Development Expenses	2,082	2,097	1,950	1,967	1,876	1,840
Research and Development
Other Operating Expenses	-392	-254	-418	-123	2,006	-474
Intellectual Property and Custom Development Expense
Other Expense
Operating Profit	2,922	3,107	1,613	3,730	-373	2,646
Operating Margin	17.9%	18.3%	11.1%	21.2%	-2.5%	16.8%
Interest Expense	-492	-510	-455	-424	-429	-427
Interest Expense
Total Non-Operating Income	-492	-510	-455	-424	-429	-427
Income Before Provision for Income Taxes	2,430	2,597	1,158	3,306	-802	2,219
Income from Continuing Operations Before Income Taxes
Provision for Income Taxes	686	404	103	379	-485	389
Provision for Income Taxes
Consolidated Net Income	1,744	2,193	1,055	2,927	-317	1,830
Income from Continuing Operations
Net Income Attributable to Discontinued Operations	—	1	0.5	-13	-13	4
Income from Discontinued Operations, Net of Tax
Net Income Attributable to Common Shareholders	1,744	2,194	1,055	2,914	-330	1,834
Net Income
Basic EPS	1.9	2.4	1.1	3.2	-0.3	2
Diluted EPS	1.8	2.3	1.1	3.1	-0.3	2
Basic Weighted Average Shares Outstanding	933.9	930.8	928	924.2	923.6	920.3
Total Shares Outstanding	934.7	931.5	929.4	926.3	924.6	921.1
Diluted Weighted Average Shares Outstanding	948.9	948	945.4	942.4	923.6	934.4
EBITDA	5,505	5,672	2,790	5,943	895	5,001
Effective Tax Rate	28.2%	15.6%	8.9%	11.5%	60.5%	17.5%