IBM CFO Forecasts 8% Profit Jump for Second Quarter
Stock Chart for International Business Machines Corp (IBM)
International Business Machines Corp. (IBM) Chief Financial Officer Mark Loughridge predicted earnings this quarter will rise 8 percent from a year earlier, in line with estimates.
The forecast suggests that profit will rise to about $3.79 a share in the period, excluding some items, up from $3.51 a year earlier. That matches the average analyst prediction, according to data compiled by Bloomberg.
Loughridge repeated his view that the Armonk, New York-based company’s growth in the second half of the year would be stronger, with “double-digit performance” in the fourth quarter.
He was speaking at the Barclays Global Technology, Media and Telecommunications Conference in New York.
To contact the reporter on this story: Sarah Frier in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Turner at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.