IBM is reporting its Q1 results today after the market closes.
Analysts estimate an 11% YoY decline in EPS to $1.24 and a 1% YoY revenue increase to $14.33 billion.
IBM typically provides full-year Free Cash Flow guidance and a general range for full-year constant currency revenue. Last quarter, the company reported a slight EPS miss, but Q4 revenue saw mid-single digit growth across most geographies.
Although there have been concerns about gross margin compression, non-GAAP gross margin improved in Q4. Looking ahead to 2023, IBM expects high-single-digit constant currency revenue growth for Consulting and a headwind for Infrastructure, which is expected to be below the mid-single digit model.
TECHS:
IBM had previously beaten EPS estimates for eight consecutive quarters before the slight miss in Q4.
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