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IBM Q3 Earnings Numbers
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IBM slides despite earnings beat

Here’s how Big Blue did.

Matt Phillips

Despite reporting better-than-expected Q3 sales and profits, IBM fell in after-hours trading Wednesday. Sales at its important software segment matched Wall Street’s expectations.

Here are IBM’s numbers:

  • Q3 revenue of $16.33 billion vs. the $16.09 billion FactSet consensus estimate.

  • Adjusted earnings per share of $2.65 vs. the $2.45 consensus expectation.

  • Sales of $7.21 billion at its key, high-margin software segment vs. a $7.21 billion consensus of six analyst estimates.

  • Sales of $3.56 billion at its infrastructure unit, which houses its growing AI mainframe business, vs. a $3.46 billion consensus of six analyst estimates.

CEO Arvind Krishna noted that the company’s “AI book of business now stands at more than $9.5 billion," compared with the previous statement in July when he said IBM’s “generative AI book of business continues to accelerate and now stands at more than $7.5 billion.”

IBM shares have had a volatile 2025, but were up roughly 31% through the end of trading on Wednesday compared to a gain of about 18% for the Nasdaq Composite.

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Lucid trading at fresh all-time low following departure of engineering and software SVP Emad Dlala

Lucid is continuing to sink to all-time lows, hitting a fresh bottom on Wednesday afternoon. The luxury EV maker is on track to close below the $5-per-share mark for the first time and is down about 54% so far this year.

All-time lows are nothing new for Lucid, which is down more than 99% from its early 2021 peak.

Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.

In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.

Exclusive: Top Lucid Motors executive departs amid new CEO's leadership shakeup | TechCrunch

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Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.

In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.

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