IBM (IBM) reported $14.97 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 1.5%. EPS of $2.30 for the same period compares to $2.20 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $15.19 billion, representing a surprise of -1.46%. The company delivered an EPS surprise of +1.32%, with the consensus EPS estimate being $2.27.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how IBM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Global financing: $181 million versus the four-analyst average estimate of $179.35 million. The reported number represents a year-over-year change of -2.7%.

• Revenue- Consulting: $5.15 billion versus the four-analyst average estimate of $5.25 billion. The reported number represents a year-over-year change of +3.8%.

• Revenue- Other: $68 million versus the four-analyst average estimate of $55.64 million. The reported number represents a year-over-year change of +1.5%.

• Revenue- Infrastructure: $3.04 billion versus the four-analyst average estimate of $3.25 billion. The reported number represents a year-over-year change of -7%.

• Revenue- Software: $6.52 billion versus the four-analyst average estimate of $6.45 billion. The reported number represents a year-over-year change of +4.1%.

• Revenue- Infrastructure Support: $1.30 billion versus $1.25 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.

• Revenue- Hybrid Infrastructure: $1.80 billion versus the two-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of -5.3%.

• Revenue- Application Operations: $1.90 billion versus $1.91 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.

• Revenue- Technology Consulting: $900 million compared to the $937.68 million average estimate based on two analysts. The reported number represents a change of -10% year over year.

• Revenue- Business Transformation: $2.30 billion compared to the $2.36 billion average estimate based on two analysts. The reported number represents a change of 0% year over year.

• Revenue- Hybrid Platform & Solutions: $4.60 billion compared to the $4.49 billion average estimate based on two analysts. The reported number represents a change of +2.2% year over year.

• Revenue- Transaction Processing: $1.90 billion compared to the $1.99 billion average estimate based on two analysts. The reported number represents a change of +5.6% year over year.