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IBM
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Latest analysis
Updated Oct 22, 2026
IBM Q3 2026: Software ARR reaches $24.9B as Confluent drives Data revenue +19%, total revenue grows 4.7% to $17.1B
IBM's Q3 2026 results are defined by Software segment strength — 8.2% reported revenue growth, $24.9B ARR, and 2.1-point segment profit margin expansion to 35.0% — driven by Confluent integration, Red Hat OpenShift ARR of approximately $2.4B, and strong Transaction Processing execution. Consulting remains the portfolio's drag, with gross margin compressing 1.9 points to 27.4% and segment profit down 4.8% as AI delivery investments precede monetization. The $10B+ quantum investment commitment over five years and the $1B CHIPS award to subsidiary Anderon mark IBM's most explicit long-cycle technology bet disclosed this cycle.
Tone: mixedRevenue
$67.5B
IBM 10-K · FY 2025
Revenue (prior FY)
$62.8B
Founded
1911
Headquarters
Armonk, NY
Profile
IBM 10-K Item 1 · Feb 24, 2026IBM is a globally integrated technology company focused on hybrid cloud and artificial intelligence, serving enterprise clients across software, consulting, infrastructure, and financing segments. Founded in 1911 and operating in over 175 countries, IBM helps organizations leverage its platforms to drive digital transformation, modernize applications, and optimize mission-critical workloads. Its competitive differentiation rests on deep enterprise incumbency, a leading research organization, and an extensive ecosystem of strategic partners and alliances.
Read filing description ↓ Collapse description ↑
We create sustained value for clients by helping them leverage the power of hybrid cloud and artificial intelligence (AI). Our hybrid cloud platform and AI technology support clients' digital transformations and helps them reimagine critical workflows, at scale, and modernize applications to increase agility, drive innovation and create operational efficiencies. Our offerings draw from leading IBM capabilities in software, consulting services capability to deliver business outcomes, and deep incumbency in mission-critical infrastructure, all bolstered by one of the world's leading research organizations. IBM is a globally integrated enterprise that participates in a highly competitive environment. Our competitors vary by industry segment, and range from large multinational enterprises to smaller, more narrowly focused entities. Across our business segments, we recognize hundreds of competitors worldwide and as we execute our hybrid cloud and AI strategy, we are regularly exposed to new competitors. Our principal methods of competition are: technology innovation; performance; price; quality; brand; our breadth of capabilities, products and services; talent; client relationships and trust; the ability to deliver business value to clients; and service and support. In order to maintain leadership, we optimize our portfolio with organic and inorganic innovations and effective resource allocation. Our breadth and depth of expertise enables us to take different technologies and bring them together to solve the most pressing business issues of our clients. We differentiate from other providers by bringing together incumbency with enterprises, deep expertise in technology, industries and business processes, a broad go-to-market reach including an ecosystem of partners and alliances, and a strong focus on innovation.
Primary products
- hybrid cloud platform
- AI technology
- software
- consulting services
- on-premises and cloud-based server and storage solutions
- client and commercial financing
Business segments
End markets
Geographies
Named competitors
“Overall, the company is the leader or among the leaders in each of our business segments.” Competitive position, as stated in the filing
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.