IBM achieved double-digit growth in third-quarter 2017

IBM announced third-quarter 2017 earnings results. Double-digit growth, revenue up 11 percent.

ibmIBM (NYSE: IBM) today announced third-quarter earnings results.

In the third quarter we achieved double-digit growth in our strategic imperatives, extended our enterprise cloud leadership, and expanded our cognitive solutions business. There was enthusiastic adoption of new z Systems mainframe, which delivers breakthrough security capabilities to our clients” said Ginni Rometty, IBM chairman, president and chief executive officer.

Highlights IBM third-quarter 2017 results:

Diluted EPS from continuing operations: GAAP of $2.92; Operating (non-GAAP) of $3.30;
Revenue of $19.2 billion;
Strategic imperatives revenue of $34.9 billion over the trailing 12 months, up 10 percent; represents 45 percent of company revenue;
Third-quarter revenue up 11 percent (up 10 percent adjusting for currency);
Cloud revenue of $15.8 billion over the trailing 12 months, up 25 percent year to year (up 26 percent adjusting for currency);
As-a-service annual exit run rate of $9.4 billion in the quarter, up 25 percent year to year (up 24 percent adjusting for currency);
Maintains full-year EPS and free cash flow expectations.

Full-Year 2017 Expectations
The company continues to expect free cash flow to be relatively flat year to year and operating (non-GAAP) diluted earnings per share of at least $13.80 and GAAP diluted earnings per share of at least $11.95. Operating (non-GAAP) diluted earnings per share exclude $1.85 per share of charges for amortization of purchased intangible assets, other acquisition-related charges and retirement-related charges.

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