Connect with us

Technology

IBM RELEASES THIRD-QUARTER RESULTS

Published

7 hours ago

on

Exceeded expectations with accelerated revenue growth led by Software and Infrastructure; Raises outlook for full-year free cash flow

ARMONK, N.Y., Oct. 21, 2026 /PRNewswire/ — IBM (NYSE: IBM) today announced third-quarter 2026 earnings results.

“Disciplined execution throughout the quarter drove accelerated revenue growth and strong free cash flow. Our clients are now deploying Super Intelligence in ways that transform entire operating models, instead of simply addressing narrow or novel problems. IBM’s technology and expertise are helping organizations drive growth and serve customers with greater speed, precision and efficiency than ever before,” said Arvind Krishna, IBM chairman, president and chief executive officer. “For the full year, we continue to expect constant currency revenue growth in the range of four-to-five percent, and we now expect free cash flow to increase by more than $1 billion year-over-year.”

Third-Quarter Highlights

Revenue
– Revenue of $17.1 billion, up 5 percent, up 6 percent at constant currency
– Software revenue up 8 percent, up 9 percent at constant currency
– Consulting revenue flat, up 2 percent at constant currency
– Infrastructure revenue up 4 percent, up 5 percent at constant currency
Profit
– Gross Profit Margin: GAAP: 56.8 percent, down 50 basis points; Operating (Non-GAAP): 58.5 percent, down 20 basis points
– Pre-Tax Income Margin: GAAP: 14.6 percent, down 30 basis points; Operating (Non-GAAP): 19.3 percent, up 70 basis points
Cash Flow
– Year to date, net cash from operating activities of $11.8 billion; free cash flow of $7.8 billion

THIRD-QUARTER 2026 INCOME STATEMENT SUMMARY

 

Revenue

 

Gross

Profit

 
 

Gross

Profit

Margin

 
 

Pre-tax

Income

 

Pre-tax

Income

Margin

 

Net

Income

 

Diluted

Earnings

Per Share

GAAP from
Continuing
Operations

$ 17.1 B

 
 

$  9.7  B

 
 

56.8

%

 

$  2.5  B

 
 

14.6

%

 

$  2.2  B

 
 

$   2.31

 

Year/Year

5

% (1)

 

4

%

 

(0.5)

Pts

 

3

%

 

(0.3)

Pts

 

26

%

 

26

%

Operating

(Non-GAAP)

 
 
 

$ 10.0 B

 
 

58.5

%

 

$  3.3  B

 
 

19.3

%

 

$  2.8  B

 
 

$   2.95

 

Year/Year

 
 
 

4

%

 

(0.2)

Pts

 

9

%

 

0.7

Pts

 

12

%

 

11

%

(1)  6% at constant currency.

“Demand across our portfolio combined with strong operational execution led to accelerated growth and solid operating pre-tax margin expansion in the quarter,” said James Kavanaugh, IBM senior vice president and chief financial officer. “Just as we are helping clients extract value from their operations with Super Intelligence, we are driving tangible returns through our productivity initiatives inside IBM. This approach fuels profit and free cash flow growth and enables us to continue to invest in our business while returning value to shareholders through our dividend.”

Segment Results for Third Quarter

Software — revenues of $7.8 billion, up 8 percent, up 9 percent at constant currency
– Hybrid Cloud (Red Hat) up 11 percent
– Automation down 3 percent
– Data up 19 percent, up 20 percent at constant currency
– Transaction Processing up 9 percent, up 10 percent at constant currency

Consulting — revenues of $5.3 billion, flat, up 2 percent at constant currency
– Strategy and Technology up 2 percent, up 4 percent at constant currency
– Intelligent Operations down 2 percent, flat at constant currency

Infrastructure — revenues of $3.7 billion, up 4 percent, up 5 percent at constant currency
– Hybrid Infrastructure up 8 percent, up 9 percent at constant currency
      — IBM Z down 20 percent, down 19 percent at constant currency
      — Distributed Infrastructure up 31 percent, up 32 percent at constant currency
– Infrastructure Support down 3 percent, down 2 percent at constant currency

Financing — revenues of $0.2 billion, down 4 percent, down 3 percent at constant currency

Cash Flow and Balance Sheet

In the third quarter, the company generated net cash from operating activities of $4.0 billion, up $0.9 billion year to year. IBM’s free cash flow was $3.0 billion, up $0.7 billion year to year. The company returned $1.6 billion to shareholders in dividends in the third quarter.

For the first nine months of the year, the company generated net cash from operating activities of $11.8 billion, up $2.6 billion year to year. IBM’s free cash flow was $7.8 billion, up $0.6 billion year to year.

IBM ended the third quarter with $11.1 billion of cash, restricted cash and marketable securities, down $3.4 billion from year-end 2025. The company invested $11.4 billion in acquisitions this year. Debt, including IBM Financing debt of $12.7 billion, totaled $63.8 billion, up $2.6 billion year to date.

Full-Year 2026 Expectations

Revenue: The company continues to expect full-year constant currency revenue growth in the range of four-to-five percent. At current foreign exchange rates, currency is expected to be neutral to growth for the year

Free cash flow: The company now expects full-year free cash flow to increase by more than $1 billion year-over-year

Dividend Declaration

The IBM board of directors approved a regular quarterly cash dividend of $1.69 per common share, to stockholders of record on November 10, 2026. With payment of the December 10, 2026 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; a failure of the company’s innovation initiatives; damage to the company’s reputation; risks from investing in growth opportunities; failure of the company’s intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; the company’s ability to successfully manage acquisitions, alliances and divestitures, including integration challenges, failure to achieve objectives, the assumption or retention of liabilities and higher debt levels; fluctuations in financial results; impact of local legal, economic, political, health and other conditions; the company’s failure to meet growth and productivity objectives; ineffective internal controls; the company’s use of accounting estimates; impairment of the company’s goodwill or amortizable intangible assets; the company’s ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product and service quality issues; the development and use of AI, including the company’s increased AI solutions and use of AI technologies; impacts of business with government clients; reliance on third party distribution channels and ecosystems; cybersecurity and data protection considerations; adverse effects related to climate change and other environmental matters; tax matters; legal proceedings and investigatory risks; the company’s pension plans; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company’s Form 10-Qs, Form 10-K and in the company’s other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference.

Any forward-looking statement in this release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.

Presentation of Information in this Press Release

In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors:

adjusting for currency (i.e., at constant currency);
presenting operating (non-GAAP) earnings per share amounts and related income statement items;
free cash flow;
net cash from operating activities excluding IBM Financing receivables;
adjusted EBITDA;
adjusted EBITDA margin.

The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8-K that includes this press release and is being submitted today to the SEC.

Conference Call and Webcast

IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. ET, today. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q26. Presentation charts will be available shortly before the Webcast.

Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts).

Contact:      IBM
                    Tim Davidson, 914-844-7847
                    tfdavids@us.ibm.com

                    Erin McElwee, 347-920-6825
                    erin.mcelwee@ibm.com

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

COMPARATIVE FINANCIAL RESULTS

(Unaudited; $ in millions except per share amounts)

 
 

Three Months Ended
September 30,

 
 

Nine Months Ended
September 30,

 
 

2026

 
 

2025

 
 

2026

 
 

2025

 

REVENUE BY SEGMENT

 
 
 
 
 
 
 
 
 
 
 

Software

$        7,804

 
 

$        7,209

 
 

$       22,617

 
 

$       20,932

 

Consulting

5,335

 
 

5,324

 
 

15,934

 
 

15,706

 

Infrastructure

3,707

 
 

3,559

 
 

10,868

 
 

10,586

 

Financing

192

 
 

200

 
 

598

 
 

557

 

Other

66

 
 

38

 
 

165

 
 

68

 

TOTAL REVENUE

17,103

 
 

16,331

 
 

50,182

 
 

47,849

 
 
 
 
 
 
 
 
 
 
 
 
 

GROSS PROFIT

9,714

 
 

9,360

 
 

28,571

 
 

27,369

 
 
 
 
 
 
 
 
 
 
 
 
 

GROSS PROFIT MARGIN

 
 
 
 
 
 
 
 
 
 
 

Software

82.5

%

 

83.1

%

 

82.6

%

 

83.5

%

Consulting

27.4

%

 

29.3

%

 

27.9

%

 

28.0

%

Infrastructure

56.7

%

 

57.2

%

 

57.4

%

 

57.7

%

Financing

40.7

%

 

45.6

%

 

42.2

%

 

45.7

%

 
 
 
 
 
 
 
 
 
 
 
 

TOTAL GROSS PROFIT MARGIN

56.8

%

 

57.3

%

 

56.9

%

 

57.2

%

 
 
 
 
 
 
 
 
 
 
 
 

EXPENSE AND OTHER INCOME

 
 
 
 
 
 
 
 
 
 
 

SG&A

4,620

 
 

4,748

 
 

14,691

 
 

14,661

 

R&D

2,378

 
 

2,082

 
 

6,863

 
 

6,129

 

Intellectual property and custom development income

(164)

 
 

(219)

 
 

(501)

 
 

(687)

 

Other (income) and expense

(109)

 
 

(173)

 
 

(296)

 
 

(376)

 

Interest expense

491

 
 

492

 
 

1,451

 
 

1,457

 

TOTAL EXPENSE AND OTHER INCOME

7,217

 
 

6,931

 
 

22,208

 
 

21,184

 
 
 
 
 
 
 
 
 
 
 
 
 

INCOME FROM CONTINUING OPERATIONS

BEFORE INCOME TAXES

2,497

 
 

2,430

 
 

6,363

 
 

6,185

 

Pre-tax income margin

14.6

%

 

14.9

%

 

12.7

%

 

12.9

%

Provision for/(benefit from) income taxes

298

 
 

686

 
 

782

 
 

1,193

 

Effective tax rate

11.9

%

 

28.2

%

 

12.3

%

 

19.3

%

 
 
 
 
 
 
 
 
 
 
 
 

INCOME FROM CONTINUING OPERATIONS

$        2,199

 
 

$        1,744

 
 

$         5,581

 
 

$         4,992

 
 
 
 
 
 
 
 
 
 
 
 
 

DISCONTINUED OPERATIONS

 
 
 
 
 
 
 
 
 
 
 

Income from discontinued operations, net of taxes

(10)

 
 

0

 
 

(10)

 
 

1

 
 
 
 
 
 
 
 
 
 
 
 
 

NET INCOME

$        2,190

 
 

$        1,744

 
 

$         5,571

 
 

$         4,993

 
 
 
 
 
 
 
 
 
 
 
 
 

EARNINGS PER SHARE OF COMMON STOCK

 
 
 
 
 
 
 
 
 
 
 

Assuming dilution

 
 
 
 
 
 
 
 
 
 
 

Continuing operations

$          2.31

 
 

$          1.84

 
 

$           5.86

 
 

$           5.27

 

Discontinued operations

$         (0.01)

 
 

$          0.00

 
 

$          (0.01)

 
 

$           0.00

 

TOTAL

$          2.30

 
 

$          1.84

 
 

$           5.85

 
 

$           5.27

 
 
 
 
 
 
 
 
 
 
 
 
 

Basic

 
 
 
 
 
 
 
 
 
 
 

Continuing operations

$          2.33

 
 

$          1.87

 
 

$           5.93

 
 

$           5.36

 

Discontinued operations

$         (0.01)

 
 

$          0.00

 
 

$          (0.01)

 
 

$           0.00

 

TOTAL

$          2.32

 
 

$          1.87

 
 

$           5.92

 
 

$           5.36

 
 
 
 
 
 
 
 
 
 
 
 
 

WEIGHTED-AVERAGE NUMBER OF COMMON SHARES

OUTSTANDING (M’s)

 
 
 
 
 
 
 
 
 
 
 

Assuming dilution

953.5

 
 

948.9

 
 

953.0

 
 

947.4

 

Basic

944.4

 
 

933.9

 
 

941.4

 
 

930.9

 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEET

 

(Unaudited)

 

($ in millions)

 

At September 30,
2026

 

At December 31,
2025

ASSETS:

 
 
 
 

Current assets:

 
 
 
 

Cash and cash equivalents

 

$                 9,233

 

$              13,587

Restricted cash

 

48

 

54

Marketable securities

 

1,825

 

830

Notes and accounts receivable – trade, net

 

5,794

 

8,112

Short-term financing receivables

 
 
 
 

  Held for investment, net

 

5,638

 

7,344

  Held for sale

 

774

 

1,131

Other accounts receivable, net

 

1,673

 

1,052

Inventories

 

1,945

 

1,220

Deferred costs

 

1,177

 

1,084

Prepaid expenses and other current assets

 

3,083

 

2,530

Total current assets

 

31,192

 

36,944

 
 
 
 
 

Property, plant and equipment, net

 

6,043

 

5,899

Operating right-of-use assets, net

 

3,114

 

3,129

Long-term financing receivables, net

 

6,844

 

7,708

Prepaid pension assets

 

7,715

 

7,544

Deferred costs

 

808

 

825

Deferred taxes

 

8,827

 

8,610

Goodwill

 

74,916

 

67,717

Intangibles, net

 

13,603

 

11,391

Investments and sundry assets

 

1,950

 

2,112

Total assets

 

$             155,011

 

$            151,880

 
 
 
 
 

LIABILITIES:

 
 
 
 

Current Liabilities:

 
 
 
 

Taxes

 

$                 1,867

 

$                2,347

Short-term debt

 

7,013

 

6,424

Accounts payable

 

4,491

 

4,756

Compensation and benefits

 

3,668

 

4,114

Deferred income

 

15,164

 

16,101

Operating lease liabilities

 

749

 

800

Other liabilities

 

3,534

 

4,116

Total current liabilities

 

36,485

 

38,658

 
 
 
 
 

Long-term debt

 

56,804

 

54,836

Retirement-related obligations

 

8,452

 

9,018

Deferred income

 

4,318

 

4,271

Operating lease liabilities

 

2,574

 

2,547

Other liabilities

 

10,172

 

9,810

Total liabilities

 

118,805

 

119,139

 
 
 
 
 

EQUITY:

 
 
 
 

IBM stockholders’ equity:

 
 
 
 

Common stock

 

65,137

 

63,318

Retained earnings

 

156,576

 

155,648

Treasury stock – at cost

 

(171,191)

 

(170,605)

Accumulated other comprehensive income/(loss)

 

(14,985)

 

(15,713)

Total IBM stockholders’ equity

 

35,537

 

32,648

 
 
 
 
 

Noncontrolling interests

 

669

 

93

Total equity

 

36,206

 

32,740

 
 
 
 
 

Total liabilities and equity

 

$             155,011

 

$            151,880

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

STATEMENT OF CASH FLOWS

(Unaudited)

 
 
 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

($ in millions)

 

2026

 

2025 (1)

 

2026

 

2025 (1)

Cash flows from operating activities:

 
 
 
 
 
 
 
 

Net income

 

$     2,190

 

$     1,744

 

$     5,571

 

$     4,993

Adjustments to reconcile net income to cash provided by operating

activities:

 
 
 
 
 
 
 
 

Depreciation (2)

 

550

 

583

 

1,638

 

1,698

Amortization of capitalized software and acquired intangible assets

 

828

 

699

 

2,363

 

2,027

Stock-based compensation

 

535

 

444

 

1,539

 

1,285

Net (gain)/loss on divestitures, asset sales and other

 

(47)

 

(6)

 

(124)

 

(46)

Changes in operating assets and liabilities, net of

acquisitions/divestitures

 

(31)

 

(383)

 

804

 

(804)

Net cash provided by operating activities

 

4,025

 

3,081

 

11,791

 

9,153

 
 
 
 
 
 
 
 
 

Cash flows from investing activities:

 
 
 
 
 
 
 
 

Payments for property, plant and equipment

 

(332)

 

(255)

 

(793)

 

(709)

Proceeds from disposition of property, plant and equipment/other

 

29

 

7

 

60

 

118

Investment in software

 

(154)

 

(162)

 

(467)

 

(476)

Purchases of marketable securities and other investments

 

(1,898)

 

(1,169)

 

(4,769)

 

(8,910)

Proceeds from disposition of marketable securities and other

investments

 

640

 

1,199

 

3,763

 

6,162

Acquisition of businesses, net of cash acquired

 

(884)

 

(58)

 

(11,364)

 

(7,903)

Divestiture of businesses, net of cash transferred

 

28

 

–

 

30

 

(1)

Net cash provided by/(used in) investing activities

 

(2,570)

 

(437)

 

(13,539)

 

(11,719)

 
 
 
 
 
 
 
 
 

Cash flows from financing activities:

 
 
 
 
 
 
 
 

Proceeds from new debt

 

1,978

 

6

 

9,415

 

8,391

Payments to settle debt

 

(120)

 

(1,114)

 

(7,261)

 

(3,679)

Short-term borrowings/(repayments) less than 90 days – net

 

2

 

0

 

3

 

(29)

Common stock repurchases for tax withholdings

 

(352)

 

(414)

 

(817)

 

(851)

Proceeds from issuance of shares

 

143

 

134

 

562

 

535

Noncontrolling interest transactions (3)

 

575

 

–

 

557

 

(15)

Financing – other (3)

 

(24)

 

(54)

 

(98)

 

(93)

Cash dividends paid

 

(1,596)

 

(1,569)

 

(4,762)

 

(4,681)

Net cash provided by/(used in) financing activities

 

607

 

(3,012)

 

(2,402)

 

(423)

 
 
 
 
 
 
 
 
 

Effect of exchange rate changes on cash, cash equivalents and restricted

cash

 

3

 

(59)

 

(209)

 

429

Net change in cash, cash equivalents and restricted cash

 

2,064

 

(426)

 

(4,359)

 

(2,561)

 
 
 
 
 
 
 
 
 

Cash, cash equivalents and restricted cash at the beginning of the period

 

7,217

 

12,026

 

13,640

 

14,160

Cash, cash equivalents and restricted cash at the end of the period

 

$     9,282

 

$   11,600

 

$     9,282

 

$   11,600

____________________

(1) Reclassified to align with the Consolidated Statement of Cash Flows presentation.

(2) Includes operating lease right-of-use assets amortization.

(3) Prior-year amounts have been reclassified to conform to the change in 2026 presentation.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION

(Unaudited)

 
 
 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

($ in billions)

 

2026

2025

Yr/Yr

 

2026

2025

Yr/Yr

Net income as reported (GAAP)

 

$   2.2

$   1.7

$  0.4

 

$   5.6

$   5.0

$  0.6

Less: income from discontinued operations, net of tax

 

0.0

0.0

0.0

 

0.0

0.0

0.0

Income from continuing operations

 

2.2

1.7

0.5

 

5.6

5.0

0.6

Provision for/(benefit from) income taxes from continuing ops.

 

0.3

0.7

(0.4)

 

0.8

1.2

(0.4)

Pre-tax income from continuing operations (GAAP)

 

2.5

2.4

0.1

 

6.4

6.2

0.2

Non-operating adjustments (before tax)

 
 
 
 
 
 
 
 

Acquisition-related charges (1)

 

0.7

0.6

0.1

 

2.1

1.7

0.3

Non-operating retirement-related costs/(income)

 

0.1

0.0

0.1

 

0.3

0.1

0.2

 
 
 
 
 
 
 
 
 

Operating (non-GAAP) pre-tax income from continuing ops.

 

3.3

3.0

0.3

 

8.7

8.0

0.7

 
 
 
 
 
 
 
 
 

Net interest expense

 

0.4

0.3

0.1

 

1.1

0.9

0.2

Depreciation/amortization of non-acquired intangible assets

 

0.7

0.7

0.0

 

2.1

2.1

0.0

Stock-based compensation

 

0.5

0.4

0.1

 

1.5

1.3

0.3

Workforce rebalancing charges

 

0.0

0.0

0.0

 

0.4

0.4

0.0

Corporate (gains) and charges (2)

 

0.0

0.0

0.0

 

(0.2)

0.0

(0.2)

 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 

$   4.9

$   4.6

$  0.3

 

$ 13.7

$ 12.7

$  1.0

 
 
 
 
 
 
 
 
 

Revenue

 

$ 17.1

$ 16.3

5 %

 

$ 50.2

$ 47.8

5 %

GAAP net income margin

 

12.8 %

10.7 %

2.1pts

 

11.1 %

10.4 %

0.7pts

Adjusted EBITDA margin

 

28.7 %

28.0 %

0.6pts

 

27.2 %

26.5 %

0.8pts

____________________

(1) Primarily consists of amortization of acquired intangible assets.

(2) Primarily consists of unique corporate actions such as gains on divestitures and asset sales.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

SEGMENT DATA

(Unaudited)

 
 
 

Three Months Ended September 30, 2026

 
 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 

Software

 
 

Consulting

 
 

Infrastructure

 
 

Financing

 

Revenue

 

$         7,804

 
 

$         5,335

 
 

$            3,707

 
 

$           192

 

Segment profit

 

$         2,734

 
 

$            653

 
 

$               715

 
 

$           108

 

Segment profit margin

 

35.0

%

 

12.2

%

 

19.3

%

 

56.1

%

Change YTY revenue

 

8.2

%

 

0.2

%

 

4.2

%

 

(3.9)

%

Change YTY revenue – constant currency

 

8.7

%

 

1.8

%

 

4.9

%

 

(3.3)

%

 
 
 

Three Months Ended September 30, 2025

 
 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 

 Software

 
 

Consulting

 
 

Infrastructure

 
 

Financing

 

Revenue

 

$         7,209

 
 

$         5,324

 
 

$            3,559

 
 

$           200

 

Segment profit

 

$         2,374

 
 

$            686

 
 

$               644

 
 

$           123

 

Segment profit margin

 

32.9

%

 

12.9

%

 

18.1

%

 

61.6

%

 
 
 

Nine Months Ended September 30, 2026

 
 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 

Software

 
 

Consulting

 
 

Infrastructure

 
 

Financing

 

Revenue

 

$        22,617

 
 

$        15,934

 
 

$          10,868

 
 

$           598

 

Segment Profit

 

$          7,335

 
 

$          1,858

 
 

$            2,074

 
 

$           334

 

Segment Profit Margin

 

32.4

%

 

11.7

%

 

19.1

%

 

55.9

%

Change YTY Revenue

 

8.1

%

 

1.5

%

 

2.7

%

 

7.3

%

Change YTY Revenue – Constant Currency

 

7.0

%

 

1.2

%

 

1.9

%

 

5.7

%

 
 
 

Nine Months Ended September 30, 2025

 
 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 

 Software

 
 

Consulting

 
 

Infrastructure

 
 

Financing

 

Revenue

 

$        20,932

 
 

$        15,706

 
 

$          10,586

 
 

$           557

 

Segment Profit

 

$          6,517

 
 

$          1,807

 
 

$            1,857

 
 

$           371

 

Segment Profit Margin

 

31.1

%

 

11.5

%

 

17.5

%

 

66.5

%

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; $ in millions except per share amounts)

 
 

Three Months Ended September 30, 2026

 
 

Continuing Operations

 
 

GAAP

 
 

Acquisition-

Related

Adjustments (1)

 
 

Retirement-

Related

Adjustments (2)

 
 

Tax

Reform

Impacts

 
 

Operating

(Non-

GAAP)

 

Gross profit

$  9,714

 
 

$                   289

 
 

$                     —

 
 

$         —

 
 

$       10,004

 

Gross profit margin

56.8

%

 

1.7

pts

 

—

pts

 

—

pts

 

58.5

%

SG&A

$  4,620

 
 

$                 (428)

 
 

$                     —

 
 

$         —

 
 

$         4,193

 

Other (income) & expense

(109)

 
 

0

 
 

(91)

 
 

—

 
 

(200)

 

Total expense & other (income)

7,217

 
 

(418)

 
 

(91)

 
 

—

 
 

6,708

 

Pre-tax income from continuing operations

2,497

 
 

707

 
 

91

 
 

—

 
 

3,295

 

Pre-tax margin from continuing operations

14.6

%

 

4.1

pts

 

0.5

pts

 

—

pts

 

19.3

%

Provision for/(benefit from) income taxes (3)

$     298

 
 

$                  166

 
 

$                    20

 
 

—

 
 

$            483

 

Effective tax rate

11.9

%

 

2.5

pts

 

0.3

pts

 

—

pts

 

14.7

%

Income from continuing operations

$  2,199

 
 

$                  542

 
 

$                    71

 
 

$         —

 
 

$         2,812

 

Income margin from continuing operations

12.9

%

 

3.2

pts

 

0.4

pts

 

—

pts

 

16.4

%

Diluted earnings per share: continuing

operations

$    2.31

 
 

$                 0.57

 
 

$                 0.07

 
 

$         —

 
 

$           2.95

 
 
 

Three Months Ended September 30, 2025

 
 

Continuing Operations

 
 

GAAP

 
 

Acquisition-

Related

Adjustments (1)

 
 

Retirement-

Related

Adjustments (2)

 
 

Tax

Reform

Impacts

 
 

Operating

(Non-

GAAP)

 

Gross profit

$  9,360

 
 

$                   231

 
 

$                     —

 
 

$         —

 
 

$         9,591

 

Gross profit margin

57.3

%

 

1.4

pts

 

—

pts

 

—

pts

 

58.7

%

SG&A

$  4,748

 
 

$                 (354)

 
 

$                     —

 
 

$         —

 
 

$         4,394

 

Other (income) & expense

(173)

 
 

(6)

 
 

(13)

 
 

—

 
 

(191)

 

Total expense & other (income)

6,931

 
 

(359)

 
 

(13)

 
 

—

 
 

6,559

 

Pre-tax income from continuing operations

2,430

 
 

590

 
 

13

 
 

—

 
 

3,033

 

Pre-tax margin from continuing operations

14.9

%

 

3.6

pts

 

0.1

pts

 

—

pts

 

18.6

%

Provision for/(benefit from) income taxes (3)

$     686

 
 

$                   136

 
 

$                       3

 
 

$      (309)

 
 

$            516

 

Effective tax rate

28.2

%

 

(1.0)

pts

 

0.0

pts

 

(10.2)

pts

 

17.0

%

Income from continuing operations

$  1,744

 
 

$                   454

 
 

$                     10

 
 

$       309

 
 

$         2,517

 

Income margin from continuing operations

10.7

%

 

2.8

pts

 

0.1

pts

 

1.9

pts

 

15.4

%

Diluted earnings per share: continuing

operations

$    1.84

 
 

$                  0.48

 
 

$                  0.01

 
 

$      0.33

 
 

$           2.65

 

____________________

(1) Includes amortization of acquired intangible assets and acquisition-related charges such as in-process research and development, transaction

     costs, applicable retention, restructuring and related expenses, tax charges related to acquisition integration, and pre-closing charges, such as

     financing costs.

(2) Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan

     curtailments/settlements and pension insolvency costs and other costs.

(3) The tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to

      the GAAP pre-tax income.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; $ in millions except per share amounts)

 
 

Nine Months Ended September 30, 2026

 
 

Continuing Operations

 
 

GAAP

 
 

Acquisition-

Related

Adjustments (1)

 
 

Retirement-

Related

Adjustments (2)

 
 

Tax

Reform

Impacts

 
 

Operating

(Non-

GAAP)

 

Gross Profit

$ 28,571

 
 

$                   813

 
 

$                     —

 
 

$        —

 
 

$    29,384

 

Gross Profit Margin

56.9

%

 

1.6

pts

 

—

pts

 

—

pts

 

58.6

%

SG&A

$ 14,691

 
 

$              (1,257)

 
 

$                     —

 
 

$        —

 
 

$    13,435

 

Other (Income) & Expense

(296)

 
 

1

 
 

(283)

 
 

—

 
 

(578)

 

Total Expense & Other (Income)

22,208

 
 

(1,256)

 
 

(283)

 
 

—

 
 

20,669

 

Pre-tax Income from Continuing Operations

6,363

 
 

2,069

 
 

283

 
 

—

 
 

8,715

 

Pre-tax Margin from Continuing Operations

12.7

%

 

4.1

pts

 

0.6

pts

 

—

pts

 

17.4

%

Provision for/(Benefit from) Income Taxes (3)

$      782

 
 

$                  470

 
 

$                    43

 
 

$         (6)

 
 

$      1,290

 

Effective Tax Rate

12.3

%

 

2.5

pts

 

0.1

pts

 

(0.1)

pts

 

14.8

%

Income from Continuing Operations

$   5,581

 
 

$               1,598

 
 

$                  240

 
 

$          6

 
 

$      7,425

 

Income Margin from Continuing Operations

11.1

%

 

3.2

pts

 

0.5

pts

 

0.0

pts

 

14.8

%

Diluted Earnings Per Share: Continuing

Operations

$     5.86

 
 

$                 1.68

 
 

$                 0.25

 
 

$     0.01

 
 

$        7.79

 
 
 

Nine Months Ended September 30, 2025

 
 

Continuing Operations

 
 

GAAP

 
 

Acquisition-

Related

Adjustments (1)

 
 

Retirement-

Related

Adjustments (2)

 
 

Tax

Reform

Impacts

 
 

Operating

(Non-

GAAP)

 

Gross Profit

$ 27,369

 
 

$                   657

 
 

$                     —

 
 

$        —

 
 

$    28,025

 

Gross Profit Margin

57.2

%

 

1.4

pts

 

—

pts

 

—

pts

 

58.6

%

SG&A

$ 14,661

 
 

$              (1,055)

 
 

$                     —

 
 

$        —

 
 

$    13,606

 

Other (Income) & Expense

(376)

 
 

(7)

 
 

(61)

 
 

—

 
 

(444)

 

Total Expense & Other (Income)

21,184

 
 

(1,066)

 
 

(61)

 
 

—

 
 

20,058

 

Pre-tax Income from Continuing Operations

6,185

 
 

1,723

 
 

61

 
 

—

 
 

7,968

 

Pre-tax Margin from Continuing Operations

12.9

%

 

3.6

pts

 

0.1

pts

 

—

pts

 

16.7

%

Provision for/(Benefit from) Income Taxes (3)

$   1,193

 
 

$                  396

 
 

$                      0

 
 

$     (307)

 
 

$      1,282

 

Effective Tax Rate

19.3

%

 

0.8

pts

 

(0.2)

pts

 

(3.9)

pts

 

16.1

%

Income from Continuing Operations

$   4,992

 
 

$               1,326

 
 

$                    61

 
 

$      307

 
 

$      6,686

 

Income Margin from Continuing Operations

10.4

%

 

2.8

pts

 

0.1

pts

 

0.6

pts

 

14.0

%

Diluted Earnings Per Share: Continuing

Operations

$     5.27

 
 

$                 1.40

 
 

$                 0.06

 
 

$     0.32

 
 

$        7.06

 

____________________

(1) Includes amortization of acquired intangible assets, and acquisition-related charges such as in-process research and development, transaction 

     costs, applicable retention, restructuring and related expenses, tax charges related to acquisition integration, and pre-closing charges, such as

     financing costs.

(2) Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan

     curtailments/settlements and pension insolvency costs and other costs.

(3) The tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to

      the GAAP pre-tax income.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP OPERATING CASH FLOW TO FREE CASH FLOW RECONCILIATION

(Unaudited)

 
 
 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

($ in millions)

 

2026

 

2025

 

2026

 

2025

Net cash provided by operating activities per GAAP

 

$     4,025

 

$     3,081

 

$   11,791

 

$     9,153

 
 
 
 
 
 
 
 
 

Less: change in IBM Financing receivables

 

541

 

298

 

2,805

 

905

 
 
 
 
 
 
 
 
 

Net cash from operating activities excl. IBM Financing receivables

 

3,484

 

2,783

 

8,986

 

8,248

 
 
 
 
 
 
 
 
 

Capital expenditures, net

 

(457)

 

(410)

 

(1,200)

 

(1,067)

 
 
 
 
 
 
 
 
 

Free cash flow

 

$     3,027

 

$     2,373

 

$     7,787

 

$     7,181

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP OPERATING CASH FLOW TO ADJUSTED EBITDA RECONCILIATION

(Unaudited)

 
 
 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

($ in billions)

 

2026

 

2025

 

2026

 

2025

Net cash provided by operating activities

 

$   4.0

 

$   3.1

 

$ 11.8

 

$   9.2

 
 
 
 
 
 
 
 
 

Add:

 
 
 
 
 
 
 
 

Net interest expense

 

0.4

 

0.3

 

1.1

 

0.9

Provision for/(benefit from) income taxes from continuing operations

 

0.3

 

0.7

 

0.8

 

1.2

 
 
 
 
 
 
 
 
 

Less change in:

 
 
 
 
 
 
 
 

Financing receivables

 

0.5

 

0.3

 

2.8

 

0.9

Net (gain)/loss on divestitures, assets sales and other (1)

 

0.0

 

0.0

 

(0.1)

 

0.0

Other assets and liabilities/other, net (1,2)

 

(0.7)

 

(0.8)

 

(2.6)

 

(2.2)

 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 

$   4.9

 

$   4.6

 

$ 13.7

 

$ 12.7

 
 
 
 
 
 
 
 
 

Revenue

 

$ 17.1

 

$ 16.3

 

$ 50.2

 

$ 47.8

Net cash provided by operating activities margin

 

23.5 %

 

18.9 %

 

23.5 %

 

19.1 %

Adjusted EBITDA margin

 

28.7 %

 

28.0 %

 

27.2 %

 

26.5 %

____________________

(1) Reclassified to align with the presentation of similar line items in the Statement of Cash Flows.

(2) Mainly consists of Changes in operating assets and liabilities, net of acquisitions/divestitures in the Statement of Cash Flows chart,

      workforce rebalancing charges, non-operating impacts, and corporate (gains) and charges, less the change in Financing receivables.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ibm-releases-third-quarter-results-302915985.html

SOURCE IBM

Related Topics:
Continue Reading

Technology

Smarter Cars, Robots and Disease Prevention: WSTDF Examines How Future Industries Take Shape

Published

25 minutes ago

on

October 22, 2026

By

CHONGQING, China, Oct. 22, 2026 /PRNewswire/ — A news report from iChongqing.

The 2026 World Science and Technology Development Forum opened in Chongqing on October 21, bringing together around 800 participants, including experts and scholars, to explore how automotive technology, robotics and other advances could shape future industries.

Wang Guangqian, President of the China Association for Science and Technology, called for technological breakthroughs, closer integration of technological and industrial innovation, greener development and stronger technology governance. He emphasized that future industries connect science and technology with the economy.

Li Junhua, UN Under-Secretary-General for Economic and Social Affairs, described engineering as a bridge between scientific discovery and industrial practice. He stressed that achieving the UN’s 2030 Sustainable Development Goals requires stronger international scientific cooperation and participation by all countries and communities.

Zhu Huarong, Chairman of China Changan Automobile Group, said cars were evolving from transportation tools into “self-evolving intelligent car robots.” The automotive industry is increasingly integrating AI, chips, communications and big data, with applications extending into energy and urban governance. In Chongqing, vehicle-road-cloud data integration supports traffic management, while vehicle-to-grid interaction and integrated energy systems could turn vehicles into mobile nodes in green energy networks.

David Lopez Perez, Professor at Universitat Politècnica de Valencia, Spain, outlined applications ranging from urban drones and industrial inspection robots to humanoid assistants for older adults. Robots must reason, plan and coordinate, supported by digital twins, intelligent systems and future 6G networks. Interoperability and standardization remain essential.

Nils Stenseth, Member of Academia Europaea and Professor at the University of Oslo, described using air travel data to build a digital twin model exploring how to prevent local epidemics from becoming global pandemics. He highlighted multisource data, digital technologies and a strong global surveillance network as tools for addressing emerging pathogens.

Together, these examples underscored the importance of interdisciplinary, cross-sectoral and international cooperation in translating advanced technologies into practical solutions.

The opening ceremony also released the Top 10 Science and Technology Foresights of 2026, covering areas including AI, brain-computer interfaces and space resource development, alongside an intelligent sensing industry map and other outcomes.

Held in Chongqing for the first time since its launch in 2019, the forum ran through October 23, featuring 12 parallel forums on intelligent sensing, AI-powered simulation, embodied intelligence, smart manufacturing, green energy and new-energy vehicles, among other fields.

For more information about the 2026 WSTDF, click here.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/smarter-cars-robots-and-disease-prevention-wstdf-examines-how-future-industries-take-shape-302916248.html

SOURCE iChongqing

Continue Reading

Technology

Distribution Utility Meet (DUM 2026) to Bring Together India’s 40+ Power Distribution Utilities in Jaipur on 27-28 October 2026

Published

25 minutes ago

on

October 22, 2026

By

10th Edition of the Annual Conference and Exhibition of Power Distribution Utilities for Collaborative Growth | 27–28 October 2026 | Jaipur

NEW DELHI, Oct. 22, 2026 /PRNewswire/ — India Smart Grid Forum (ISGF) will organize the 10th edition of the Distribution Utility Meet (DUM 2026), India’s flagship annual conference and exhibition for the power distribution sector, on 27–28 October 2026 at Jaipur, Rajasthan. The milestone edition is being held in partnership with all three Rajasthan DISCOMs, Jaipur Vidyut Vitran Nigam Limited (JVVNL), Jodhpur Vidyut Vitran Nigam Limited (JdVVNL) and Ajmer Vidyut Vitran Nigam Limited (AVVNL) as Host Utilities. DUM 2026 is supported by the Ministry of Power, NITI Aayog, Energy Department of Rajasthan Government, Central Electricity Authority (CEA) and All India DISCOMs Association (AIDA). Power Foundation of India (PFI) is the Knowledge Partner, Rajasthan Renewable Energy Corporation Limited (RRECL) is the RE Partner and Pelocal is the Powered by Partner.

Since its first edition in Bengaluru in 2017, DUM has been held in Mumbai, New Delhi, Bhubaneswar, Kochi, and Lucknow, with two digital editions in 2020 and 2021. The 9th edition in Mumbai in November 2025 drew over 600 participants, including senior officers from 45 DISCOMs. The 10th edition comes to Rajasthan, one of India’s leading renewable energy states, making Jaipur a fitting venue for discussions on integrating renewables, storage and new large loads into distribution grid. DUM 2026 is expected to bring together over 500 participants, including senior officials from 40+ DISCOMs across India and 100+ speakers, including senior utility leaders, regulators, policymakers, researchers and technology providers.

Honorable Chief Minister of Rajasthan, Shri Bhajan Lal Sharma is expected to inaugurate DUM 2026 along with Honorable Minister of State for Energy, Shri Heera Lal Nagar on 27th October 2026 at The Lalit, Jaipur. 

Announcing the event, Shri Reji Kumar Pillai, President, ISGF, said: “DUM has grown over ten editions into the one platform where India’s DISCOM leaders assemble together and learn from each other’s successes. As distribution utilities move from turnaround to transformation, with smart meters, distributed renewables, storage and new large loads such as AI data centres and EVs, that peer learning matters more than ever. We are delighted to bring the 10th edition to Rajasthan with all three state DISCOMs as host utilities.”

BSES Rajdhani Power Limited, BSES Yamuna Power Limited, Tata Power Delhi Distribution Limited, The Tata Power Company Limited, Noida Power Company Limited and Chandigarh Power Distribution Limited join DUM 2026 as Co-Host Utilities. Oracle, Enspar and The Energy and Resources Institute (TERI) are the Thematic Session Partners, Indian Energy Exchange (IEX) is the Exchange Partner and Wirepas is the Delegate Bag Partner. WorkOnGrid, Eaton, Reformtech Co., Ltd., REConnect Energy, Radius Synergies Pvt. Ltd. and Stelmec Limited joined as Technology Innovation Partners. Power Foundation of India (PFI) is the Knowledge Partner, RRECL is the RE Partner and Pelocal is the Powered by Partner.

The DUM 2026 exhibition will showcase technologies and solutions for the distribution sector. The exhibitors include Power Foundation of India, JVVNL, The Tata Power Company Limited, Tata Power Delhi Distribution Limited, Brodersen Systems Pvt. Ltd., Taurus Powertronics, BENTEC, REConnect Energy, Oracle, Yitran Technologies, WorkOnGrid, Eaton, Reformtech Co., Ltd., RMC India, Enspar Sustainability Pvt. Ltd., Kimbal, Madhav Engineers Pvt. Ltd., Elektrolites, Phoenix Contact, Radius Synergies Pvt. Ltd., Stelmec Limited, Deliverain Research & Solutions, Future Grid, SM Systems, RRECL, Pelocal, and Chandigarh Power Distribution Limited.

Over two days, DUM 2026 will hold seven thematic sessions on the most pressing challenges and opportunities for DISCOMs:

DISCOMs Financial Transformation and Capital Market ReadinessScaling Digital Intelligence and Advanced Smart Meter Data AnalyticsRole of RE in Managing New and Emerging Loads and Ensuring Supply Reliability and Power QualityFlexibility Solutions for Distribution Networks and CEA Standards for Solar PV and BESSClimate Resilience and Securing the Physical Assets of DISCOMsIndia Energy Stack (IES), Data Exchange Framework, Cyber Security and Data Privacy for the Digital GridsBESS Applications in Power Distribution – Select Case Studies

Discussions will cover capital market instruments such as green and sustainability-linked bonds for DISCOMs, moving smart meter analytics from pilots to population scale, grid readiness for AI data centres and EV charging, grid-forming inverters for BESS, demand flexibility and time-of-day tariffs, climate-resilient network design, and DISCOM readiness for the India Energy Stack and the CEA (Cyber Security in Power Sector) Regulations, 2026.

DUM is a closed-door forum for power distribution utilities, with participation by invitation for DISCOMs, government and regulatory representatives. The meet provides a unique platform for knowledge exchange and collaboration among the DISCOM community, technology providers and policymakers. DUM 2026 reaffirms India’s commitment to grid modernization, digitalization and the transition toward a Net Zero power sector, and to the principle that utilities grow stronger by learning from each other’s experiences.

For more information, visit www.dumindia.in

About India Smart Grid Forum (ISGF): India Smart Grid Forum (ISGF) is a Think-Tank of global repute on Smart Energy, Electric Mobility and Smart Cities. ISGF, established as a Public Private Partnership initiative of Government of India in 2011, is spearheading the mission to accelerate electric grid modernization and energy transition in India. ISGF is registered as a Not-for-Profit Society under Indian Societies Act. The main objectives of ISGF are to conduct research and studies on evolving technologies related to clean energy, energy efficiency, electric mobility, energy transition and electric grid modernization relevant in the Indian context through case studies, pilot demonstrations, cost- benefit analysis and other ancillary activities. ISGF also brings together experts from policy, regulation, academia, and industry to formulate and support enabling policies, standards, and regulations. ISGF’s multidisciplinary team works closely with policymakers, regulators, utilities, academia, and industry leaders to shape enabling frameworks and standards. Website: www.indiasmartgrid.org 

About Distribution Utility Meet (DUM): DUM is ISGF’s annual conference and exhibition for India’s power distribution utilities. It brings together senior DISCOM leaders, the Ministry of Power, MNRE, CERC and SERCs, state energy departments, international utility experts, research institutions and industry to share experience, evaluate new technologies and business models, address the challenges of managing millions of distributed energy resources, and propose regulatory and policy interventions for DISCOM sustainability. Website: www.dumindia.in

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/distribution-utility-meet-dum-2026-to-bring-together-indias-40-power-distribution-utilities-in-jaipur-on-2728-october-2026-302915244.html

Continue Reading

Technology

TIER IV and Technical University of Munich Bring NVIDIA Hyperion to Level 4 Autonomous Driving in Germany

Published

26 minutes ago

on

October 22, 2026

By

Announced at NVIDIA GTC Berlin, the initiative builds on the TUM Autoware Research Center by TIER IV and integrates NVIDIA Hyperion and Halos safety system to accelerate next-generation autonomous mobility

TOKYO, Oct. 21, 2026 /PRNewswire/ — TIER IV, the pioneering force behind Autoware, the world’s leading open-source software for autonomous driving, and the Technical University of Munich (TUM) today announced an expanded collaboration centered on NVIDIA Hyperion and NVIDIA Halos safety system to scale safe, high-performance autonomous driving systems across Germany.

NVIDIA Hyperion is a reference sensor and compute platform for Level 4 autonomous vehicles and robotaxis. It combines NVIDIA DRIVE AGX Thor accelerated computing with the NVIDIA Halos safety system to accelerate safe, production-ready autonomy.

Building upon the recent establishment of the TUM Autoware Research Center by TIER IV, the initiative will integrate NVIDIA Hyperion, including high-performance dual-DRIVE AGX Thor configurations into Autoware-based autonomous vehicle projects across Germany.

By bringing together NVIDIA’s automotive-grade compute and safety technologies, Autoware’s open-source software and TUM’s automotive research expertise, the initiative will provide researchers and developers with a powerful environment for building, testing and validating next-generation autonomous driving systems.

The work will focus on translating advanced research into safe, scalable real-world deployments, including autonomous public transportation and robotaxi applications.

“To transition autonomous mobility from academic research to trusted, real-world deployment, leveraging cutting-edge hardware such as NVIDIA Hyperion alongside leading open-source platforms like Autoware is essential. This partnership allows us to rigorously test autonomous vehicle systems on German roads, ensuring public transit solutions are built on transparent, verifiably safe, and collaborative technology rather than restrictive proprietary systems,” said Prof. Markus Lienkamp, Technical University of Munich.

“Building on years of joint work on Autoware between TUM and TIER IV, integrating advanced platforms like NVIDIA Hyperion lets us push real-time vehicle control and software architecture to a whole new level,” added Prof. Johannes Betz.

Shinpei Kato, founder and CEO of TIER IV, commented, “Scaling safe autonomous driving globally requires moving beyond closed, black box systems toward open, interoperable architectures. TUM is an exceptional partner for advancing cutting-edge research, and NVIDIA Hyperion, together with NVIDIA’s leadership in high-performance compute and commitment to open-source software ecosystems, provides the solid foundation needed to accelerate scalable, publicly trusted autonomous transit in Germany and beyond.”

“NVIDIA Hyperion provides the reference sensor and compute architecture needed to develop Level 4 autonomous vehicles and robotaxis at scale,” said Rishi Dhall, vice president of automotive at NVIDIA. “Together with TIER IV and TUM, we are combining NVIDIA DRIVE AGX Thor and the NVIDIA Halos safety system with an open-source autonomous driving platform to accelerate safe, production-ready autonomy.”

*Autoware is a registered trademark of the Autoware Foundation.

Media Contact: pr@tier4.jp

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/tier-iv-and-technical-university-of-munich-bring-nvidia-hyperion-to-level-4-autonomous-driving-in-germany-302916252.html

SOURCE TIER IV, Inc.

Continue Reading

Trending