IBM

INTERNATIONAL BUSINESS MACHINES CORP

v3.25.1
CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue $ 14,541 $ 14,462
Cost 6,510 6,719
Gross profit 8,031 7,742
Expense and other (income):    
Selling, general and administrative 4,886 4,974
Research and development 1,950 1,796
Intellectual property and custom development income (253) (216)
Other (income) and expense (165) (317)
Interest expense 455 432
Total expense and other (income) 6,873 6,669
Income from continuing operations before income taxes 1,158 1,074
Provision for/(benefit from) income taxes 103 (502)
Income from continuing operations 1,054 1,575
Income from discontinued operations, net of tax 1 30
Net income $ 1,055 $ 1,605
Assuming dilution:    
Continuing operations (in dollars per share) $ 1.12 $ 1.69
Discontinued operations (in dollars per share) 0.00 0.03
Total (in dollars per share) 1.12 1.72
Basic:    
Continuing operations (in dollars per share) 1.14 1.72
Discontinued operations (in dollars per share) 0.00 0.03
Total (in dollars per share) $ 1.14 $ 1.75
Weighted-average number of common shares outstanding:    
Assuming dilution (in shares) 945,368,229 933,431,312
Basic (in shares) 928,006,724 917,178,779
Services    
Revenue $ 7,280 $ 7,470
Cost 5,002 5,239
Sales    
Revenue 7,070 6,799
Cost 1,404 1,381
Financing    
Revenue 191 192
Cost $ 104 $ 99