International Business Machines Corporation (IBM) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, and thank you for standing by. At this time, all participants are in a listen-only mode. Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now, I will turn the meeting over to Olympia McNerney, IBM's Global Head of Investor Relations. Olympia, you may begin. Thank you. I'd like to welcome you to IBM's first quarter 2026 earnings presentation. I'm Olympia McNerney, and I'm here today with Arvind Krishna, IBM's Chairman, President, and Chief Executive Officer, and Jim Cavanaugh, IBM's Senior Vice President and Chief Financial Officer. We'll post today's prepared remarks and a replay of today's webcast on the IBM Investor website within a couple hours. The earnings presentation is already available. To provide additional information to our investors, our presentation includes certain non-GAAP measures. All of our references to revenue and signings growth are at constant currency. We provided reconciliation charts for these and other non-GAAP financial measures at the end of the presentation, which is posted to our investor website. Finally, some comments made in this presentation may be considered forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve factors that could cause our actual results to differ materially. Additional information about these factors is included in the company's SEC filings. So with that, I'll turn the call over to Arvind. Thank you for joining us today. Let me start with our first quarter results and then provide context of what we are seeing across the business. IBM is off to a strong start to 2026. Revenue in the first quarter grew 6%. and combined with strong margin expansion, drove 13% growth in free cash flow. These results reflect the d...