International Business Machines Corporation
Shortcut
2.85GAAP diluted EPS
-0.6% vs Street
Street
2.87GAAP diluted EPS
October 18 consensus snapshot
Real
2.95Issuer operating non-GAAP diluted EPS
Model download
Explore the assumptions and calculations behind the forecast.
Shortcut’s reasoning.
The revenue build gives $16.851bn: Software $7.634bn, Consulting $5.395bn, Infrastructure $3.588bn, Financing $0.189bn and Other $45m.
Segment gross-margin assumptions are 82.6% for Software, 29.8% for Consulting, 55.0% for Infrastructure and 43.0% for Financing. The consolidated gross-profit bridge includes $290m of acquired-intangible amortization and a separate $70m non-amortization residual.
The model estimates operating pre-tax income of $3.203bn and applies a 15% operating tax rate, giving operating net income of $2.723bn on 954m diluted shares.
Operating diluted EPS is 2.853826135076559 versus frozen normalized Street EPS of 2.87. The corporate/other allocation and FX assumptions remain material judgments; the beat probability is separate and never multiplies EPS.
On the record.
- Reporting period
- Q3 2026
- Reporting basis
- Issuer operating non-GAAP diluted EPS / consensus normalized EPS
- Consensus snapshot
- October 18, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Reviewed workbook
Record history
- Forecast generated
- Oct 19, 2026 at 10:50 AM PDT
- First published
- Oct 19, 2026 at 12:29 PM PDT
Research sources
- https://www.sec.gov/Archives/edgar/data/51143/000005114325000061/ibm-20251022xex991.htm
- https://www.sec.gov/Archives/edgar/data/51143/000005114326000004/ibm-20260128xex991.htm
- https://www.sec.gov/Archives/edgar/data/51143/000005114326000036/ibm-20260422xex991.htm
- https://www.sec.gov/Archives/edgar/data/51143/000005114326000077/ibm-20260722xex991.htm