International Business Machines Corporation · NYSE:IBM

International Business Machines — Q2 2020 Earnings Presentation

7 slides from International Business Machines's earnings presentation, Jul 21, 2020

  1. Slide 1: IBM 2Q 2020 Earnings Non-GAAP Supplemental Material

    IBM 2Q 2020 Earnings Non-GAAP Supplemental Material July 20, 2020 ibm.com/investor ​ ​

  2. Slide 2: Reconciliation of Revenue Performance - 2Q 2020 by Segment

    Non-GAAP Supplemental Materials Reconciliation of Revenue Performance - 2Q 2020 2Q20 Yr/Yr 2Q20 Yr/Yr GAAP @CC GAAP @CC Global Technology Services Infrastructure & Cloud Services Technology Support Services Cloud Systems Systems Hardware IBM Z Power Storage Operating Systems Software Cloud (8%) (7%)

  3. Slide 3: Reconciliation of Revenue Performance - 2Q 2020 by Geography

    Non-GAAP Supplemental Materials Reconciliation of Revenue Performance - 2Q 2020 2Q20 Yr/Yr Divest impact Currency impact Adjusted GAAP Total Revenue (5.4%) 2 pts 2 pts (1.9%) Americas Europe/ME/Africa Asia Pacific (4%) (7%) (5%) 2 pts 2 pts 1 pts 2 pts 2 pts 1 pts Flat (3%) (4%) Total Cloud 30% 2 pt

  4. Slide 4: Revenue for Red Hat, Normalized - 2Q 2020

    Non-GAAP Supplemental Materials Reconciliation of Revenue for Red Hat, Normalized - 2Q 2020 Three Months Ended Red Hat Revenue, Normalized for Historical Comparability Jun 30 2020 Jun 30 2019 Yr/Yr Yr/Yr@CC Red Hat revenue as reported in IBM consolidated results (1) $867 $ - Add: Red Hat revenue pri

  5. Slide 5: Expense Summary Non-GAAP Adjustments

    Non-GAAP Supplemental Materials Reconciliation of Expense Summary - 2Q 2020 2Q20 Non-GAAP Adjustments Operating (Non-GAAP) GAAP SG&A Currency Acquisitions/Divestitures Base* RD&E Currency Acquisitions/Divestitures Base* Operating Expense & Other Income Currency Acquisitions/Divestitures Base* 1 pts

  6. Slide 6: Free Cash Flow - Last 12 Months

    Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow - Last 12 Months 12 Months Ended Jun 2020 Net Cash from Operating Activities per GAAP: $15.1 Less: change in Global Financing (GF) Receivables $0.9 Net Cash from Operating Activities (Excluding GF Receivables) $14.2 Capital Expenditure

  7. Slide 7: (eo) 7) o > e = iS [o} =

    (eo) 7) o > e = iS [o} 2 = 2

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