2024-04-24 22:05:24 ET
International Business Machines Corporation (IBM)
Q1 2024 Earnings Call Transcript
April 24, 2024 05:00 PM ET
Company Participants
Olympia McNerney - Global Head of Investor Relations
Arvind Krishna - Chairman and Chief Executive Officer
James Kavanaugh - Senior Vice President and Chief Financial Officer
Conference Call Participants
Amit Daryanani - Evercore
Wamsi Mohan - Bank of America
Toni Sacconaghi - Bernstein
Ben Reitzes - Melius Research
Erik Woodring - Morgan Stanley
Brent Thill - Jefferies
Brian Essex - JPMorgan
Matt Swanson - RBC Capital Markets
Presentation
Operator
Welcome and thank you for standing by. At this time, all participants are in a listen-only mode. Today’s conference is being recorded. If you have any objections you may disconnect at this time.
Now, I will turn the meeting over to Olympia McNerney, IBM's Global Head of Investor Relations. Olympia, you may begin.
Olympia McNerney
Thank you. I'd like to welcome you to IBM's first quarter 2024 earnings presentation. I'm Olympia McNerney, and I'm here today with Arvind Krishna, IBM's Chairman and Chief Executive Officer; and Jim Kavanaugh, IBM's Senior Vice President and Chief Financial Officer.
We'll post today's prepared remarks on the IBM investor website within a couple of hours, and a replay will be available by this time tomorrow. To provide additional information to our investors, our presentation includes certain non-GAAP measures. For example, all of our references to revenue and signings growth are at constant currency. We provided reconciliation charts for these and other non-GAAP financial measures at the end of the presentation, which is posted to our investor website.
Finally, some comments made in this presentation may be considered forward looking under the Private Securities Litigation Reform Act of 1995. These statements involve factors that could cause our actual results to differ materially. Additional information about these factors is included in the company's SEC filings.
So with that, I'll turn the call over to Arvind.
Arvind Krishna
Thank you for joining us. In the first quarter, we had solid performance across revenue and cash flow. These results are further proof of the quality of our portfolio and our hybrid cloud and AI strategy. We had good performance in software at the high end of our model, continued strength in infrastructure above our model, while consulting was below model. On a relative basis, consulting outperformed the market. Our cash flow generation is the strongest first quarter level we have reported in many years. This performance speaks to the strength of our diversified business model....
Read the full article on Seeking Alpha
For further details see:
International Business Machines Corporation (IBM) Q1 2024 Earnings Call Transcript