IBM Q3 Earnings Numbers

(Matthias Balk/Getty Images)

IBM beats Q4 earnings expectations, stock rises

Here’s what big blue reported.

1/28/26 4:33PM

IBM jumped in after-hours trading after posting better-than-expected Q4 revenue and sales figures:

Q4 revenue of $19.69 billion vs. the $19.21 billion FactSet consensus estimate.
Adjusted earnings per share of $4.52 vs. the $4.31 consensus expectation.
Sales of $9.03 billion at its key, high-margin software segment vs. an $8.77 billion consensus of nine analyst estimates.
Sales of $5.13 billion in its infrastructure unit, which houses its growing AI mainframe business, vs. a $4.71 billion consensus estimate.

IBM CEO Arvind Krishna said: “Infrastructure continued its double-digit revenue growth with the robust adoption of the next generation of our mainframe platform. Our generative AI book of business now stands at more than $12.5 billion.”

That’s up from $9.5 billion at the end of Q3.

The market’s positive reaction to the results could signal new life for IBM shares. They’ve had a volatile run over the last year, in which they’ve risen roughly 30%. But they’ve been essentially flat so far in early 2026.

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