8-KRegulation FDExhibits & Filings

INTERNATIONAL BUSINESS MACHINES CORP 8-K Report, Regulation FD Disclosure (Oct 17, 2019)

Filed October 17, 2019For Securities:IBM

Summary

IBM filed an 8-K on October 17, 2019, to disclose information pertaining to its third-quarter 2019 earnings presentation. The report primarily directs investors to accompanying exhibits which contain the prepared remarks of the CFO, supplemental non-GAAP financial measures, and presentation slides. This filing is crucial for investors seeking details on IBM's financial performance and outlook for the period. A key piece of information highlighted is IBM's expectation for total revenue to increase between $3.5 billion and $3.7 billion from the third quarter to the fourth quarter of 2019. This projected sequential improvement is notably higher than the prior year's comparable period, primarily attributed to the recent launch of the IBM z15 mainframe. Investors should note that while most of the information is furnished, certain edited Q&A remarks are considered 'filed' under the Exchange Act.

Key Highlights

  • 1IBM's 8-K filing on October 17, 2019, provides supplemental information for its Q3 2019 earnings presentation.
  • 2The filing includes prepared remarks from CFO Jim Kavanaugh, non-GAAP financial reconciliations, and presentation slides (Exhibits 99.1, 99.2, and 99.3).
  • 3IBM forecasts a sequential revenue increase of $3.5 billion to $3.7 billion from Q3 2019 to Q4 2019.
  • 4This expected revenue growth is significantly higher than the sequential growth seen in Q3 2018 to Q4 2018.
  • 5The primary driver for the increased Q4 revenue expectation is the launch of the new IBM z15 mainframe in late September 2019.
  • 6Most of the content is furnished and not considered 'filed' for regulatory purposes, except for specific edited Q&A remarks.
  • 7IBM encourages investors to visit its website for ongoing financial and investor information.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with supplementary materials related to IBM's third-quarter 2019 earnings presentation, including prepared remarks from the CFO, non-GAAP financial reconciliations, and presentation slides.

IBM expects total revenue to increase between $3.5 billion and $3.7 billion from the third quarter to the fourth quarter of 2019. This represents a stronger sequential improvement compared to the same periods in 2018.

The primary driver for the expected sequential revenue increase in the fourth quarter of 2019 is the introduction of the new IBM z15 mainframe, which was launched late in September 2019.

Information designated as 'furnished' (most of the content) is generally not subject to the same liability as 'filed' information. However, certain edited Q&A remarks from the earnings presentation are specifically stated as being 'filed' under the Exchange Act, making them subject to greater regulatory scrutiny.