IBM Lays An Egg On Failure To Convert Deals And Growth Market Weakness
by Trefis
Analytics, Smarter Planet, IBM cloud and other new initiatives have carried International Business Machines, (NYSE:IBM) for the past few quarters and this continued in Q1 2013 as well. The company reported GAAP EPS of $2.70 for Q1CY13, which is up for the 11th consecutive year mainly due to a stock buyback. Revenue declined by 5% at $23.40 billion, negatively impacted by cross currency headwinds and the company's failure to close deals for its software and server divisions [source]. However, IBM expects to close most of these rollover deals for software and mainframe in Q2, and therefore, report stronger revenue figures next quarter. Net income was $3 billion for the quarter, down 1% y-o-y. read more »
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