IBM Q3 Earnings Numbers

(Matthias Balk/Getty Images)

IBM slides despite earnings beat

Here’s how Big Blue did.

10/22/25 4:44PM

Despite reporting better-than-expected Q3 sales and profits, IBM fell in after-hours trading Wednesday. Sales at its important software segment matched Wall Street’s expectations.

Here are IBM’s numbers:

Q3 revenue of $16.33 billion vs. the $16.09 billion FactSet consensus estimate.
Adjusted earnings per share of $2.65 vs. the $2.45 consensus expectation.
Sales of $7.21 billion at its key, high-margin software segment vs. a $7.21 billion consensus of six analyst estimates.
Sales of $3.56 billion at its infrastructure unit, which houses its growing AI mainframe business, vs. a $3.46 billion consensus of six analyst estimates.

CEO Arvind Krishna noted that the company’s “AI book of business now stands at more than $9.5 billion," compared with the previous statement in July when he said IBM’s “generative AI book of business continues to accelerate and now stands at more than $7.5 billion.”

IBM shares have had a volatile 2025, but were up roughly 31% through the end of trading on Wednesday compared to a gain of about 18% for the Nasdaq Composite.

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