Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  International Business Machines Corporation    IBM

INTERNATIONAL BUSINESS MACHINES CORPORATION

(IBM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

IBM posts double-digit cloud revenue growth; says customers deferring some projects

10/19/2020 | 10:23pm EST
FILE PHOTO: A man wearing a protective mask walks past an office building with IBM logo amidst the easing of the coronavirus disease (COVID-19) restrictions in Sydney

(Reuters) - International Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud services, a business it is staking its future on as it prepares to spin off one of its legacy units.

IBM shares, however, fell 3% after the company stayed away from issuing a forecast for the current quarter, citing uncertainty around a global economic recovery due to the COVID-19 pandemic.

"Clients' near-term priorities continue to include operational stability, flexibility and cash preservation, which tends to favor (operating expenses) over (capital expenses)," Chief Financial Officer James Kavanaugh said.

"This is resulting in some project delays and purchase deferrals."

Revenue from the cloud business, previously headed by Chief Executive Officer Arvind Krishna, rose 19% to $6 billion in the third quarter, offsetting weakness in much of its other businesses.

The boost from the cloud business further underscores IBM's move to focus on its high-margin open hybrid cloud and AI solutions, which together account for more than half of its recurring revenue, by spinning off its IT infrastructure services unit.

"Clients continue to balance short-term challenges and opportunities for transformation ... More of my conversations with CEOs are around how they become digital businesses," Krishna said on a post-earnings call.

IBM's total revenue fell 2.6% to $17.56 billion in the reported quarter, but was slightly above analysts' estimates of $17.54 billion, according to IBES data from Refinitiv.

Excluding the impact from currency and business divestitures, sales declined 3.1%.

The global technology services segment, IBM's biggest unit that caters to some of the world's largest data centers, reported a 4% drop in revenue to $6.5 billion.

Excluding items, the company earned $2.58 per share, which was in line with analysts' estimates.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Anil D'Silva)


© Reuters 2020
All news about INTERNATIONAL BUSINESS MACHINES CORPORATION
11/20ADOBE : Latest Federal Court Cases, 10/26/20
AQ
11/19INTERNATIONAL BUSINESS MACHINES : Sandvik - Digital technology on the cutting ed..
AQ
11/19INTERNATIONAL BUSINESS MACHINES : Electrolux and IBM use AI to help consumers ma..
AQ
11/19NAGASE : to Launch SaaS Service Powered by TABRASA New Material Search Platform
AQ
11/19IBM : Announces New Collar Apprenticeship Accelerator for IBM : Z
PR
11/19INTERNATIONAL BUSINESS MACHINES : Fortune and IBM Watson Health Recognize Top-Pe..
AQ
11/19INTERNATIONAL BUSINESS MACHINES : IBM Makes Education & Hiring More Inclusive Wo..
AQ
11/19INTERNATIONAL BUSINESS MACHINES : IBM to Acquire Instana as Company Continues to..
AQ
11/18INTERNATIONAL BUSINESS MACHINES : IBM to Acquire Instana as Company Continues to..
AQ
11/18IBM : to Acquire Instana as Company Continues to Advance its Hybrid Cloud and AI..
PR
More news
Financials (USD)
Sales 2020 73 927 M - -
Net income 2020 5 417 M - -
Net Debt 2020 50 627 M - -
P/E ratio 2020 20,6x
Yield 2020 5,23%
Capitalization 111 B 111 B -
EV / Sales 2020 2,18x
EV / Sales 2021 2,12x
Nbr of Employees 352 600
Free-Float 39,7%
Chart INTERNATIONAL BUSINESS MACHINES CORPORATION
Duration : Period :
International Business Machines Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INTERNATIONAL BUSINESS MACHINES CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 137,50 $
Last Close Price 124,20 $
Spread / Highest target 28,8%
Spread / Average Target 10,7%
Spread / Lowest Target -5,80%
EPS Revisions
Managers
NameTitle
Arvind Krishna Chief Executive Officer & Director
James M. Whitehurst President, Head-Strategy, Cloud & Cognitive
Virginia M. Rometty Executive Chairman
James J. Kavanaugh Chief Financial Officer & Senior Vice President
Juan Antonio Zufiria Senior VP-IBM Global Technology Services
Sector and Competitors
1st jan.Capitalization (M$)
INTERNATIONAL BUSINESS MACHINES CORPORATION-7.34%110 865
ACCENTURE PLC18.73%158 391
TATA CONSULTANCY SERVICES25.92%137 966
AUTOMATIC DATA PROCESSING, INC.2.10%75 158
INFOSYS LIMITED55.93%65 332
VMWARE, INC.-0.84%63 233