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.
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