IBM

IBM · Information Technology · Market cap $209B

Q2 FY26 Jun 30, 2026 reported Jul 23, 2026

Revenue$17.2B +1% year over year

Gross profit$9.9B

Operating profit$2.6B

Net profit$2.2B 13% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	17.2	100%	+1%
Product	9	52%	−1%
Technology Service	7.9	46%	+3%
Financial Service	0.2	1%	+12%
Cost of revenue	−7.3	42%
Gross profit	9.9	58% margin	−1pp
Research & development	−2.3	13%	+1pp
SG&A	−5	29%	−1pp
Operating profit	2.6	15% margin	+0pp
Tax	−0.3
Interest & other costs	−0.1
Net profit	2.2	13%	+0pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	15.9	100%	+9%
Product	8	50%	+13%
Technology Service	7.7	48%	+6%
Financial Service	0.2	1%	+15%
Cost of revenue	−7	44%
Gross profit	9	56% margin	+1pp
Research & development	−2.2	14%	+0pp
SG&A	−5.1	32%	−2pp
Operating profit	1.7	11% margin	+0pp
Tax	−0.2
Interest & other costs	−0.3
Net profit	1.2	8%	+0pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	16.3	100%	+9%
Product	8.4	52%	+15%
Technology Service	7.7	47%	+4%
Financial Service	0.2	1%	+11%
Cost of revenue	−7	43%
Gross profit	9.4	57% margin	+1pp
Research & development	−2.1	13%	+0pp
SG&A	−4.7	29%	−4pp
Operating profit	2.5	15% margin	+0pp
Tax	−0.7
Interest & other costs	−0.1
Net profit	1.7	11%	+13pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	17	100%	+8%
Product	9.1	54%	+11%
Technology Service	7.7	45%	+4%
Financial Service	0.2	1%	−2%
Cost of revenue	−7	41%
Gross profit	10	59% margin	+2pp
Research & development	−2.1	12%	+1pp
SG&A	−5	30%	−2pp
Operating profit	2.9	17% margin	+0pp
Tax	−0.4
Interest & other costs	−0.3
Net profit	2.2	13%	+1pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Jun 30, 2026	Jul 23, 2026	$17.2B	+1%	15%	$2.2B	13%
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 23, 2026	$15.9B	+9%	11%	$1.2B	8%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 23, 2025	$16.3B	+9%	15%	$1.7B	11%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 24, 2025	$17B	+8%	17%	$2.2B	13%