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2026-04-09 03:25:55
Needham analyst David Grossman noted that IBM made some adjustments to its 2026 forecast, primarily to reflect the pressure on its software and services business from geopolitical tensions, as well as unfavorable exchange rate conditions. However, there were also some offsetting factors, including the early completion of the Confluent acquisition. Needham now expects revenue growth at constant currency levels to be between 4.5% and 5.0%, slightly below the company's guidance. Furthermore, it forecasts earnings per share of $12.38, an increase of 7%, and free cash flow to increase by approximately $1 billion, also a 7% increase.
