IBMInternational Business Machines Corporation
- Next report
- No date yet
- none in the next 8 weeks
- Last result
- $2.95Beat
- vs $2.88 expected on Oct 21
- Stock move on it
- +0.26%
- one session
- Typical move
- ±0.3%
- average over 2 reports
- Price
- $244.68
- −1.43% today · $213B cap
Past and upcoming reports
2
| Oct 21, 2026 | Sep 30, 2026 | Time not given | $2.88 | Beat$2.95 | +0.26% |
| Jul 22, 2026 | Jun 30, 2026 | Time not given | $3.03 | Missed$2.93 | +0.43% |
After the report
Jul 22, 2026 report
This covers the Jul 22, 2026 report. The Oct 21, 2026 numbers are in the table above.
IBM Q2 EPS In-Line. Stock Rallies 3.6% as Deep-Value Narrative Gains Traction
IBM reported Q2 2026 EPS of $2.93, exactly in line with the $2.93 consensus estimate (0.0% surprise). The stock surged 3.65% on the day to $214.19, continuing a recovery from a historic 25% single-day rout earlier in the quarter. The in-line print and post-earnings price action suggest the market is reassessing downside risk, though the stock remains well below its 50- and 200-day moving averages.
Reported against expected
In lineReported EPS of $2.93 exactly matched the consensus estimate of $2.93 (0.0% surprise, in-line).
Guidance
No explicit forward guidance was provided in the payload. the post-earnings narrative is inferred from the positive price reaction and lack of negative news.
How the stock reacted
Stock closed at $214.19 on July 24, up 3.65% from the prior close of $206.65, on heavy volume of 9.27 million shares (vs. 90-day average ~7.5M).
What changed
EPS in-line at $2.93. stock +3.65% on volume, recovering from 25% rout.
What the price now assumes
Market pricing a floor after deep selloff. RSI 34.9 neutral, not oversold.
What it means for the business
Upgrade bias if next quarter's revenue growth accelerates. watch Q3 organic revenue.
The next one to three months, as we saw it then
Better case30%
The in-line print and subsequent rally confirm a sentiment bottom. If Q3 guidance (next report ~Oct 2026) shows accelerating revenue growth and EPS momentum, the stock could re-rate toward the $255.78 analyst target.
Base case50%
IBM continues to grind sideways between $200 and $230 as the market digests the AI infrastructure shift's impact on legacy services. The in-line print provides no new catalyst, and the stock remains below key moving averages.
Worse case20%
The in-line print is a dead cat bounce. If the AI infrastructure shift permanently erodes demand for IBM's legacy services, revenue could keep declining and the stock could test $200 or lower. The 2.12 debt/equity ratio and 60% payout ratio leave limited financial flexibility.
If you hold it
Hold unless next-quarter revenue misses guidance materially or customer concentration risk worsens.
If you are watching
Add only if next-quarter guidance is reiterated or raised. avoid if guidance is cut or geopolitical risk escalates.
Scenario odds are a judgement, not measured.