IBM Q2 net cash from operating activities $3.6 billionChristian Fernsby ▼ | July 21, 2020
IBM announced second quarter 2020 earnings results.
IBM IBM ended the second quarter with $14.3 billion of cash on hand
IBM ended the second quarter with $14.3 billion of cash on hand which includes marketable securities, up $5.2 billion from year-end 2019. Debt, including Global Financing debt of $21.9 billion, totaled $64.7 billion.
Highlights for the second quarter include:
GAAP EPS from continuing operations of $1.52
Operating (non-GAAP) EPS of $2.18
Revenue of $18.1 billion, down 5.4 percent (down 1.9 percent adjusting for divested businesses and currency)
Total cloud revenue of $6.3 billion, up 30 percent (up 34 percent adjusting for divested businesses and currency)
Red Hat revenue up 17 percent (up 18 percent adjusting for currency), normalized for historical comparability
GAAP gross profit margin of 48 percent, up 100 basis points. ■