IBM reports earnings: a beat all the way around
- EPS of $3.29 versus of estimates $3.24. So that's a beat.
- And revenues of $19.2 billion versus estimates of $19 billion. That's a beat, too.
IBM Reports 2016 Third-Quarter Earnings
Revenue from continuing operations of $19.2 billion
Strategic imperatives revenue of $31.8 billion over the last 12 months represents 40 percent of IBM revenue
Cloud revenue of $12.7 billion over the last 12 months
|THIRD QUARTER 2016|
|Diluted EPS||Net Income||Margin|
|GAAP from Continuing Operations||$2.98||$2.9B||46.9%|
|As reported (US$)||$19.2B||$8.0B||$3.4B|
|Year/Year adjusting for currency||-1%||15%||42%|
- Cognitive Solutions (includes solutions software and transaction processing software) -- revenues of $4.2 billion, up 4.5 percent. Cloud revenue within the segment grew 74 percent (up 75 percent adjusting for currency), and Solutions Software grew 8 percent.
- Global Business Services (includes consulting, global process services, application management) -- revenues of $4.2 billion, down 0.4 percent (down 1.6 percent adjusting for currency). Strategic imperatives revenue within the segment was up 13 percent (up 12 percent adjusting for currency).
- Technology Services & Cloud Platforms (includes infrastructure services, technical support services, integration software) --revenues of $8.7 billion, up 2.4 percent (up 1.4 percent adjusting for currency). Growth of 45 percent (up 42 percent adjusting for currency) in strategic imperatives revenue within the segment was driven by strong hybrid cloud services performance.
- Systems (includes systems hardware and operating systems software) -- revenues of $1.6 billion, down 21.0 percent (down 21.5 percent adjusting for currency). Revenue reflects z Systems product cycle dynamics.
- Global Financing (includes financing and used equipment sales) --revenues of $412 million, down 7.9 percent (down 9.2 percent adjusting for currency).