International Business Machines Corporation · IBM · Next earnings

International Business Machines Corporation reports Wednesday, Jan 27, 2027

IBM reports after market close with consensus EPS at $4.63 and revenue at $20.40B. Last quarter: IBM Q3 Growth Accelerates as Software and AI Data Demand Strengthen

Reports After market close84 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $4.63 Calendar consensus
Consensus revenue $20.40B Calendar consensus
Report date Jan 27, 2027 Wednesday, date estimated
Session After market close 84 days away

Where IBM left off: FY2026 Q3

Full report

IBM Q3 Growth Accelerates as Software and AI Data Demand Strengthen

EPS surprise +3.5% Reported $2.95 vs $2.85
Revenue surprise +1.7% Reported $17.10B vs $16.82B
Stock move +3.9% Event window
Subsequent drift 0.0% Up to 20 sessions

Management raised free-cash-flow growth guidance to more than $1 billion while maintaining full-year revenue growth guidance of 4%–5%.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Higher capital spending and cash taxes could pressure earnings and free cash flow.
  • Enterprise AI adoption costs and governance remain uncertain.
  • Macroeconomic pressure could weaken IT spending.
  • Competition remains intense across hybrid cloud and AI.
  • Transaction-processing growth, pricing uplift and slip-deal effects remain areas to monitor.

Questions analysts left open

  • Whether transaction-processing growth can remain durable and how slip-deals affect results.
  • What is driving recent margin expansion and how sustainable it is.
  • Pricing power and uplift in transaction-processing contracts.
  • The timeline for sovereign AI and AI cost-management initiatives.
  • Execution and cross-sell potential from the Confluent and Streamhouse combination.

Ask FN2 about IBM next report

Transcript, numbers and history already loaded
What should I watch for in IBM's next earnings report?How did IBM guide last quarter, and is consensus above or below that?Give me the bull and bear case going into IBM earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Get the IBM recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Recent IBM quarters

All IBM earnings
+3.9%FY2026 Q3+0.4%FY2026 Q2-8.3%FY2026 Q1-0.9%FY2025 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.