International Business Machines (IBM) Revenue — Quarter Ended Mar 31, 2023
Revenue declined compared to the prior quarter, but posted a slight increase relative to the same period a year earlier. The company maintained a strong liquidity position with ample cash and credit facilities.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined compared to the prior quarter, but posted a slight increase relative to the same period a year earlier. The company maintained a strong liquidity position with ample cash and credit facilities.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$14.3B
Revenue reported for this quarter.
Quarter-over-quarter
-14.6%
Change from the immediately preceding quarter.
Year-over-year
+0.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$60.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $15.5B | +9.3% |
| Sep 30, 2022 | $14.1B | +6.5% |
| Dec 31, 2022 | $16.7B | -0.0% |
| Mar 31, 2023 | $14.3B | +0.4% |
Revenue performance
Revenue for the quarter decreased from the preceding quarter, reflecting a sequential downturn. The year-over-year comparison showed a modest gain.
Quarterly comparison
Sequentially, revenue fell from the immediately preceding quarter, while compared to the same quarter one year earlier, revenue edged higher.
What to watch
Debt levels rose notably from the end of the prior year, primarily due to debt issuances to address upcoming maturities, a factor to monitor.