International Business Machines Corporation

NYSE-IBM

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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	31,519	32,522	30,231	32,133	29,727	30,798
Total Revenues %Chg	4.3%	1.2%	1.7%	4.3%	-0%	2.8%
Services
Sales
Financing
Cost of Sales	13,511	13,662	13,539	13,843	13,717	13,735
Services
Sales
Financing
Gross Profit	18,008	18,859	16,692	18,290	16,010	17,062
Gross Profit
Gross Profit Margin	57.1%	58%	55.2%	56.9%	53.9%	55.4%
Selling, General & Administrative Expenses	9,913	9,776	9,912	9,249	9,754	9,157
Selling, General and Administrative
Research & Development Expenses	4,047	3,842	3,637	3,433	3,342	3,215
Research and Development
Other Operating Expenses	-672	1,883	-1,008	-840	-934	5,271
Intellectual Property and Custom Development Expense
Other Expense
Operating Profit	4,720	3,358	4,151	6,448	3,848	-581
Operating Margin	15%	10.3%	13.7%	20.1%	12.9%	-1.9%
Interest Expense	-965	-853	-859	-817	-790	-609
Interest Expense
Total Non-Operating Income	-965	-853	-859	-817	-790	-609
Income Before Provision for Income Taxes	3,755	2,504	3,293	5,632	3,058	-1,189
Income from Continuing Operations Before Income Taxes
Provision for Income Taxes	507	-106	-112	633	543	-844
Provision for Income Taxes
Consolidated Net Income	3,248	2,610	3,405	4,999	2,515	-344
Income from Continuing Operations
Net Income Attributable to Discontinued Operations	1	-26	34	-8	-4	-141
Income from Discontinued Operations, Net of Tax
Net Income Attributable to Common Shareholders	3,249	2,584	3,439	4,991	2,511	-486
Net Income
Basic EPS	3.5	2.8	3.7	5.5	2.8	-0.5
Diluted EPS	3.4	2.7	3.7	5.4	2.7	-0.5
Basic Weighted Average Shares Outstanding	929.4	924.8	918.7	914.3	908.1	904.9
Total Shares Outstanding	931.5	926.3	921.1	915	911	906.1
Diluted Weighted Average Shares Outstanding	946.7	940.4	933.9	925.5	918.6	914.6
EBITDA	7,162	5,739	6,437	8,693	5,999	1,719
Effective Tax Rate	13.5%	-4.2%	-3.4%	11.2%	17.8%	71%