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IBM Reports Q3 Earnings Inline With The Street

By John F. Heerdink, Jr.

International Business Machines Corporation (IBM) reported Q3 earnings recently, in-line with analyst expectations.

Key earning figures:

  • EPS of $2.58 per share was reported, in-line with $2.58 per share expected.
  • Revenue of $17.56 billion was reported versus $17.54 billion expected, reporting a 2.5% decline.
  • Global Technology Services segment reported $6.46 billion in revenue, a 4% drop year over year.
  • Cloud and Cognitive Software, which includes Red Hat, reported $5.55 billion in revenue, an increase of 7%.
  • Revenue from Global Business Services summed to $3.97 billion, down by 5%.
  • Systems revenue stood at $1.26 billion, a decline of 15%, and below the $1.55 billion estimates.
  • The company’s free cash flow was $1.10 billion, the lowest since the first quarter of 2001, and below $2.26 billion estimates.

CEO Arvind Krishna said that, based on feedback from shareholders, IBM plans to maintain its dividend and grow it. Earlier this month, Krishna announced that IBM’s Global Technology Services unit would turn into a new company. 

Dow 30 component International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. To learn more about International Business Machines Corp (IBM) and to track its ongoing progress please visit the Vista Partners IBM Coverage Page

 

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: IBM reports third straight quarter of revenue declines in CNBC)


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