IBM: IBM's (IBM -6.5%) would've missed Q1 EPS...

9:55 AM IBM's (IBM -6.5%) would've missed Q1 EPS estimates by $0.34, rather than $0.05, if not for a lower tax rate, says BMO's Keith Bachman. Like others, Bachman is skeptical Big Blue's woes are solely due to execution, given weak results from peers (one can now add SAP to the list). "We think demand was perhaps weaker than we and the companies thought." Sterne Agee, however, is staying bullish precisely because it doesn't consider IBM's issues company-specific. Meanwhile, the WSJ is backing up CRN's report about the relatively low-margin x86 server unit being on sale. Morgan Stanley estimates the unit had 2012 sales of $4.9B. (previous) (transcript) Read comments

IBM price at time of publication: $193.57. Check IBM price now »

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Transcripts on IBM

• International Business Machines' Management Discusses Q1 2013 Results - Earnings Call Transcript
• International Business Machines' Management Discusses Q4 2012 Results - Earnings Call Transcript
• International Business Machines Management Discusses Q3 2012 Results - Earnings Call Transcript

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