International Business Machines (IBM) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter declined from the immediately preceding period but rose compared with the same quarter a year earlier. The sequential drop reflects a typical seasonal pattern, while the year-over-year gain indicates underlying growth.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter declined from the immediately preceding period but rose compared with the same quarter a year earlier. The sequential drop reflects a typical seasonal pattern, while the year-over-year gain indicates underlying growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$14.5B
Revenue reported for this quarter.
Quarter-over-quarter
-16.8%
Change from the immediately preceding quarter.
Year-over-year
+1.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$62.1B
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, 2023 | $15.5B | -0.4% |
| Sep 30, 2023 | $14.8B | +4.6% |
| Dec 31, 2023 | $17.4B | +4.1% |
| Mar 31, 2024 | $14.5B | +1.5% |
Revenue performance
The reported revenue was lower than the prior quarter, yet higher than the same period last year. The trailing twelve-month revenue remained above the current quarterly level.
Quarterly comparison
Compared with the immediately preceding quarter, revenue decreased sharply. In contrast, revenue increased when measured against the same quarter one year earlier.
What to watch
The sequential revenue decline may be a seasonal factor, but its magnitude relative to the year-ago gain should be monitored.