IBM (IBM) Q3 2025 10-Q Quarterly Report
IBM (IBM) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 23, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
IBM Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $16.3B, up 9.1% YoY ($14.97B prior year); growth driven by Software +10.5% and Infrastructure +17.0%
- • Income from continuing operations margin 10.7% vs (2.1)% YoY; Operating (non-GAAP) net income margin 15.4% vs 14.4%
- • Best segment: Infrastructure revenue +17.0%, segment profit margin 18.1% vs 13.9% YoY; Worst: Consulting - lower signings (-4.1%) though revenue +3.3%
- • Operating cash flow $3.1B Q3 2025, up $0.2B YoY; free cash flow $2.4B, up $0.3B; $7.9B invested in acquisitions YTD, including HashiCorp
- • Management bullish on hybrid cloud and AI growth; launched IBM z17 and Power11; expects 2025 retirement costs ~$1.1B; notes currency impact and U.S. tax reform charge $0.3B non-cash withheld from operating earnings
Risk Factors
- • Section 'risk_factors' was empty or not found.
IBM Q3 2025 Quarterly FinancialsXBRL
Revenue
$16.3B
▲ +9.1% YoY▼ -3.8% QoQ
Net Income
$1.7B
▲ +628.5% YoY▼ -20.5% QoQ
Gross Margin
57.3%
▲ +107bp YoY▼ -144bp QoQ
Net Margin
10.7%
▲ +1288bp YoY▼ -224bp QoQ
ROE
6.2%
Total Assets
$146.3B
EPS (Diluted)
$1.84
▲ +611.1% YoY▼ -20.3% QoQ
Operating Cash Flow
$3.1B
▲ +7.0% YoY▲ +81.2% QoQ
Source: XBRL data from IBM Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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