The useful question is what changes for users, developers or buyers, and whether the announcement stays industry context or becomes something people can actually use.

IBM announced its second-quarter 2026 earnings on July 22, 2026, with CEO Arvind Krishna emphasizing the company’s focus on an AI-driven future and its portfolio of software, infrastructure, and consulting services. Krishna highlighted plans to accelerate revenue growth and profitability through AI-driven productivity improvements and scaled innovation commercialization. The company now expects constant currency revenue growth of 4-5% for the full year and anticipates free cash flow to rise by about $1 billion year-over-year.

CFO James Kavanaugh noted revenue headwinds in the latter part of the quarter but underscored the company’s commitment to operational discipline, portfolio strengthening, and shareholder returns. IBM generated $2.6 billion in net cash from operating activities in Q2, up $0.9 billion year-over-year, while free cash flow declined by $0.3 billion to $2.5 billion. The company returned $1.6 billion to shareholders via dividends during the quarter.

For the first six months of 2026, IBM reported $7.8 billion in net cash from operating activities, an increase of $1.7 billion year-over-year, though free cash flow remained flat at $4.8 billion. Cash reserves, including restricted cash and marketable securities, totaled $8.2 billion at quarter-end, a decrease of $6.3 billion from year-end 2025. The company invested $10.5 billion in acquisitions year-to-date, with total debt rising to $62.0 billion, including $13.0 billion in IBM Financing debt.

IBM’s board declared a quarterly cash dividend of $1.69 per common share, payable on September 10, 2026, marking 110 consecutive years of dividend payments. The earnings call for Q2 2026 is scheduled for 5:00 p.m. ET on July 22, with presentation charts available prior to the webcast. Forward-looking statements were noted as subject to change per legal requirements.