IBM sees FY23 tax rate mid- to high-teens percent

Says remains confident in revenue and free cash flow growth expectations for the full year. Says revenue was led again by software and consulting. Says gross profit margin expansion driven by improving portfolio mix and productivity initiatives. Says expects FY23 pre-tax margin to expand by half point. Sees FY23 tax rate mid- to high-teens percent. Says expects currency translation to be fairly neutral to revenue growth for the year. Says for Q3 the average of analyst’s estimates look reasonable. Comments and guidance taken from Q2 earnings conference call.