International Business Machines Corporation (IBM) earnings on July 22, 2026
More International Business Machines Corporation earnings
Prior outlook: Pessimistic Outcome: Partial
IBM rose as much as 5.33% during the day but gave back most of those gains to close up only 0.43%, showing the stock slipped from its morning highs.
IBM price around the earnings
206.65
Change: +0.4%
2026-07-23, 20:00 UTC
Start of the measured window
End of the measured window
199.49
205.03
210.58
216.12
205.77
July 22, 2026
July 23, 2026
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- End of the measured window
- Market open
- No trading (market closed)
- Starting price
Prior thesis
Prior outlook: Pessimistic Outcome: Partial
- Thesis published
- Results released
Strong analyst upgrades and strong recent earnings history overwhelmed by extreme trend strength collapse and high implied volatility.
Context analyzed before publication
- Trend
- Trajectory improved from -46.3 to -23.7 but remains deeply negative; extreme selloff creating a deep discount.
Analysts
Evidence
- Analyst consensus
- Buy
- Consensus average (1-5)
- 2.16
- Analysts covering the stock
- 23
- Average price target
- 262.85
- Lowest price target
- 175
- Highest price target
- 350
- Upside to price target
- 27.9%
- Quarterly earnings growth
- 15.3%
- Revenue growth
- 9.5%
- Forward EPS
- 12.99
- Trailing EPS
- 11.3
- Analyst moves in the last 60 days
- 10
- Strong buy: 3
- Buy: 11
- Hold: 8
- Sell: 1
- Strong sell: 2
- Strong buy
- 3
- Buy
- 11
- Hold
- 8
- Sell
- 1
- Strong sell
- 2
- July 22, 2026 · Baird: Initiates coverage (Neutral)
- July 21, 2026 · Barclays: Maintains rating (Overweight → Overweight)
- July 21, 2026 · Jefferies: Maintains rating (Buy → Buy)
- July 20, 2026 · Stifel: Maintains rating (Buy → Buy)
- July 17, 2026 · Citigroup: Maintains rating (Buy → Buy)
- July 17, 2026 · JP Morgan: Maintains rating (Overweight → Overweight)
- July 16, 2026 · Argus Research: Maintains rating (Buy → Buy)
- July 16, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
- July 14, 2026 · HSBC: Downgrades rating (Hold → Reduce)
- July 14, 2026 · Oppenheimer: Reiterates rating (Outperform → Outperform)
News and sentiment
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- Low
- Normalized volume
- 33%
News
Sources (3)
- IBM Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call (opens in a new tab) — Benzinga
- Baird Initiates Coverage On IBM with Neutral Rating, Announces Price Target of $230 (opens in a new tab) — Benzinga
- Tesla Earnings Could Move $83 Billion in Market Value (opens in a new tab) — Benzinga
Technicals
Evidence
- Average true range (ATR)
- 7%
- Distance to 52-week high
- -37.6%
- 14-day change (14d)
- -31.2%
- 30-day change (33d)
- -15.5%
- 30-day relative strength
- -15.7%
- SPY change (33d)
- +0.2%
- Nearest support
- 208.05
- Nearest resistance
- 211.08
- Volume accumulation ratio (14d / 46d)
- 1.77
Trends
Evidence
- Average earnings surprise
- +6.1%
- April 22, 2026: actual EPS 1.91 vs estimate 1.81 (surprise +5.5%)
- January 28, 2026: actual EPS 4.52 vs estimate 4.29 (surprise +5.3%)
- October 22, 2025: actual EPS 2.65 vs estimate 2.45 (surprise +8.3%)
- July 23, 2025: actual EPS 2.8 vs estimate 2.65 (surprise +5.5%)
Expected move
- Implied move
- +5.9%
- Source
- Options chain
Reactions over its last 19 earnings
- Median move
- 5.7%
- 75th percentile move
- 7.9%
- 90th percentile move
- 9.5%
- Up / down moves
- 10 / 9
- Average up move
- +5.6%
- Average down move
- -6.3%
Monitoring and close
What International Business Machines Corporation reported
- Status
- Pending
| Actual EPS | 2.93 |
|---|---|
| EPS estimate | 2.86 |
| EPS surprise | +2.4% |
| Revenue | $17,162 million |
| Revenue estimate | $16,860 million |
| Revenue surprise | +1.8% |
Sources (1)
- IBM reported adjusted earnings of $2.93 per share, beating the $2.86 estimate, and revenue of $17.162B, above the $16.860B forecast. — Benzinga
Pre-market second reading after the results
- Verdict
- Beat expectations
Heading into the open, the figures confirm the pessimistic scenario. In the 940 past cases with a similar move, the close held that direction 72% of the time.
How the stock reacted
- Outcome
- Partial
- Consolidated
- +0.4%
- Max favorable move (MFE)
- 3.2%
- Max adverse move (MAE)
- 5.3%