Tag IBM

Enterprise software provider IBM's second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses cut tech spending. IT companies have warned of more pain as businesses striving to cut costs in the face of rising inflation snip tech budgets, hurting the industry that saw rapid growth during the COVID-19 pandemic when businesses rushed to adopt hybrid work. IT majors such as Accenture and India's Tata Consultancy Services have also flagged demand weakness, with the former missing market estimates for quarterly revenue last month after its North America revenue grew at its slowest rate in about three years...

IBM posted better-than-expected earnings for the June quarter, with revenue coming in slightly below expectations—mostly because of a higher-than-expected hit from unfavorable foreign exchange rates. IBM CEO Arvind Krishna noted in an interview with Barron’s that about $80 million of the top-line miss was related to currency, with a modest miss in the company’s mainframe business. Earnings on an adjusted basis were $2.18 a share, well ahead of the Street consensus at $2.01, and the company’s software business topped expectations for the quarter...

Enterprise software provider IBM's second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses cut tech spending. IT companies have warned of more pain as businesses striving to cut costs in the face of rising inflation snip tech budgets, hurting the industry that saw rapid growth during the COVID-19 pandemic when businesses rushed to adopt hybrid work. IT majors such as Accenture and India's Tata Consultancy Services have also flagged demand weakness, with the former missing market estimates for quarterly revenue last month after its North America revenue grew at its slowest rate in about three years...

Enterprise software provider IBM's second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by tepid spending from businesses. IT service providers have warned of further pain as companies striving to cut costs in the face of rising inflation cut tech budgets, hurting the industry that saw rapid growth during the COVID-19 pandemic when businesses rushed to adopt hybrid work. IT majors such as Accenture and India's Tata Consultancy Services have also flagged demand weakness, with the former missing market estimates for quarterly revenue last month after its North America revenue grew at its slowest rate in about three years...

IBM (NYSE: IBM) today announced second-quarter 2023 earnings results...

These are the stocks posting the largest moves after the bell...

International Business Machines (NYSE:IBM) was falling after a mixed second-quarter earnings report. IBM shares are down more than 3% so far this year. The company reported adjusted earnings of $2.18 a share on revenue of $15.48 billion...

A letter from IBM Chief Impact Officer Justina Nixon-Saintil in the Global Education Coalition Newsletter NORTHAMPTON, MA / ACCESSWIRE / July 19, 2023 / IBM Dear Coalition Members, This year, on World Youth Skills Day, we collectively recognized .....

Looking for stock market analysis and research with proves results? Zacks.com offers in-depth financial research with over 30years of proven results...