AGK Finance
  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
No Result
View All Result
  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
No Result
View All Result
AGK Finance
No Result
View All Result
Home Stock

IBM stock slips after another revenue decline, no outlook

admin by admin
October 19, 2020
in Stock
0
IBM stock slips after another revenue decline, no outlook
0 shares
  • Share
  • Tweet

Last Updated on October 19, 2020 by admin

[ad_1]

https://www.marketwatch.com/

Getty Photographs

Worldwide Enterprise Machines Corp. income continued to say no within the third quarter, in keeping with a Monday earnings report, and shares sank in after-hours buying and selling as the corporate stated it might not present an outlook.

On a convention name, IBM
IBM,
-0.32%

Chief Monetary Officer James Kavanaugh stated the corporate could be taking expenses of $2.three billion within the fourth quarter “to simplify and streamline our enterprise” as the corporate transitions to spinning off its IT outsourcing enterprise. “Given this uncertainty and per our route for many of this 12 months, we’re not going to offer steerage.”

“We’re making strategic choices, taking actions, and rising investments in the present day to raised place our enterprise and speed up our high line development on a sustainable foundation,” Chief Government Arvind Krishna stated on the decision.

Analysts surveyed by FactSet anticipate adjusted fourth-quarter earnings of $four.09 a share on income of $20.81 billion.

The corporate reported third-quarter web earnings of $2.three billion, or $2.58 a share, in contrast with $2.68 a share within the year-ago interval. Earnings from persevering with operations had been $1.89 a share, in contrast with $1.87 a share within the year-ago interval. Income fell to $17.6 billion from $18.03 billion within the year-ago quarter, persevering with a long-term gross sales decline that has seen income fall year-over-year in all however 4 of the previous 33 quarters.

IBM had reported preliminary earnings of $2.58 a share on income of $17.6 billion earlier this month, and analysts surveyed by FactSet had shifted their estimates to a mean of $2.58 a share on income of $17.54 billion.

Shares, which had been down about 1% following the earnings report, had been down about 2.5% throughout the convention name. These share strikes adopted a zero.three% decline within the common session to $125.52.

IBM has centered on hybrid-cloud expertise of late, together with with the spinoff information, which was messaged as a solution to focus extra on that space. IBM claimed whole cloud income, which is unfold amongst a few of its segments, elevated 19% to $6 billion.

World expertise companies, or GTS, posted $6.5 billion in income in contrast with $6.7 billion within the year-ago quarter and the $6.25 billion Road consensus. The corporate reported cloud and cognitive software program income — which incorporates its Pink Hat unit — of $5.6 billion in contrast with $5.28 billion a 12 months in the past, whereas analysts had been anticipating $5.48 billion.

World enterprise companies income was $four billion, in contrast with $four.12 billion a 12 months in the past, and Road forecasts of $three.9 billion. Techniques income was $1.three billion, in contrast with $1.48 billion a 12 months in the past and analyst expectations of $1.55 billion.

For the 12 months, IBM shares are down 6%, in contrast with a 1% decline by the Dow Jones Industrial Common 
DJIA,
-1.43%
,
and versus a 6% rise by the S&P 500 index 
SPX,
-1.63%

and a 28% achieve by the Nasdaq Composite Index 
COMP,
-1.65%
.

[ad_2]

Tags: declineIBMOutlookrevenueslipsStock
admin

admin

Related Posts

Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher
Stock

Encompass Health declares dividend on common stock | News

November 4, 2022
Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher
Stock

Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher

November 5, 2022
Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher
Stock

AMC Entertainment to Sell Stock Amid Bankruptcy Warning

November 5, 2022
Next Post
City of Sand Springs receives Excellence in Financial Reporting Honor | News

City of Sand Springs receives Excellence in Financial Reporting Honor | News

Creative Pinellas helping local artists affected by the pandemic get federal money

Creative Pinellas helping local artists affected by the pandemic get federal money

“Boo for our Blue” to raise money for Helena officer injured in wreck – Shelby County Reporter

“Boo for our Blue” to raise money for Helena officer injured in wreck - Shelby County Reporter

Categories

  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock

Topics

Act Announces Bank billion Business businesses buy chief City County COVID19 Earnings Finance Financial fund General Group health invest Investment Local Market million Monday money News October pandemic Quarter reasons Reports Results save Smart state stimulus Stock stocks support time today Top Trump Ways West

Subscribe

Subscribe
Bard
Thompson
[email protected]
No Result
View All Result

Highlights

Europcar Reschedules Q3 Financial Call – Rental Operations

Idaho OKs contract to distribute low-income education money | Local

David Dodge joins Rocky Mountain Communities as director of financial planning and analysis

Premier Financial: 3Q Earnings Snapshot

Encompass Health declares dividend on common stock | News

Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher

Trending

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News
Finance

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News

by admin
November 5, 2022
0

St. Lucie, Florida is a city on the Treasure Coast with a population of just over 100,000...

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

November 5, 2022
The 6-Step Guide to Raising Equity Finance – Bytestart

The 6-Step Guide to Raising Equity Finance – Bytestart

November 5, 2022
Europcar Reschedules Q3 Financial Call – Rental Operations

Europcar Reschedules Q3 Financial Call – Rental Operations

November 5, 2022
Following the money in Texas’ heated U.S. Senate race

Idaho OKs contract to distribute low-income education money | Local

November 4, 2022
Finance

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News

November 5, 2022
Invest

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

November 5, 2022

Recent News

  • CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia
  • Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News
  • The 6-Step Guide to Raising Equity Finance – Bytestart

Category

  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
  • Contact Us
  • REPORT SPAM
  • TERMS & CONDITIONS
  • SITE SECURITY
  • PRIVACY POLICY
  • ABOUT US
  • ANTI-SPAM POLICY

© 2020 agkfinance

No Result
View All Result

© 2020 agkfinance

0 shares