Here's how the company did in comparison with LSEG's consensus:

Earnings per share: $2.30 adjusted vs. $2.23 expected
Revenue: $14.97 billion vs. $15.07 billion expected
IBM's overall revenue increased 1.5% year over year, according to a statement. It had a net loss of $330 million, or 36 cents per share, compared with net income of $1.70 billion, or $1.84 per share, in the year-ago quarter. IBM swung to a loss after a one-time pension settlement charge tied to an agreement with Prudential.