International Business Machines Expected to Post 'Solid' Q2 Results, RBC Says

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International Business Machines Expected to Post 'Solid' Q2 Results, RBC Says International Business Machines (IBM) is expected to post "solid" Q2 financial results, driven by continued infrastructure...

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driven by continued infrastructure outperformance and improvement in software results, RBC Capital Markets said in an earnings preview emailed Friday.The investment bank said the reacceleration in Red Hat, improved free cash flow seasonality to boost investor confidence, and generative artificial intelligence sentiment will be in focus when the company posts Q2 results on July 24.\"Investor focus heading into the quarter has centered around the moving parts of the software business particularly any re-acceleration of Red Hat as well as market and macro dynamics around consulting,\" the analysts said in the note.RBC said that consulting services make up 75% of the $1 billion bookings to date, with the majority of projects integrating IBM technology.IBM's decision to open-source both the Granite AI models and the associated code base will broaden software applicability with organic growth but does not create any near-term monetization opportunities, according to the preview.RBC said consulting holds potential for upside, citing Accenture's (ACN) $900 million in GenAI bookings in Q2. IBM \"achieved roughly $750 million in GenAI bookings to date,\" the firm said.RBC reiterated its outperform rating and $200 price target on IBM's stock.Price: 183.53, Change: -1.69, Percent Change: -0.91","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2452440320"}