On July 14, IBM announced its preliminary financial results for the second quarter of 2026: revenue of $17.2 billion, up 1% year-over-year; GAAP gross margin of 57.7%, down 1.1 percentage points year-over-year; GAAP diluted earnings per share of $2.27, down 2% year-over-year. Additionally, IBM Chairman Arvind Krishna stated that the company remains on track to deliver the first large-scale fault-tolerant quantum computer by 2029.
