Friday, January 20, 2017

IBM Posts Earnings Beat In Q4 And Raises Guidance For 2017, But Stock Plunges (Forbes)

Also see IBM Still Hopeful After 19 Consecutive Quarters Of Declining Revenue (Fortune) and IBM Margins Narrow While It Struggles to End Sales Slide (Bloomberg)
"The company reported non-GAAP earnings per share of $5.01 compared to analyst consensus of $4.88. Revenue for the quarter came in at $21.77 billion, up from expectations of $21.66 billion. Because of the strong quarterly earnings, IBM also beat full-year estimates, posting $13.59 in earnings per share.

IBM’s stock was on the move in after hours trading, up more than $4 or about 2.4% in the minutes after reporting. But by 4:30 pm ET, sellers had their say, with the stock down about the same amount at $4.08, or 2.45%, as of 4:45 pm ET.

In a statement about the earnings, chairman and CEO Ginni Rometty claimed that the results of the past year established IBM as “the industry’s leading cognitive solutions and cloud platform company.” She credited IBM Watson and IBM Blockchain as two areas for growth. “More and more clients are choosing the IBM Cloud because of its differentiated capabilities, which are helping to transform industries, such as financial services, airlines and retail,” Rometty added."
IBM Posts Earnings Beat In Q4 And Raises Guidance For 2017, But Stock Plunges
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