IBM Sales Fall for 6th Straight Quarter

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Oct. 16 (Bloomberg) –- Bloomberg’s Cory Johnson discusses IBM’s Q3 earnings. He speaks with Adam Johnson and Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Things to analyst estimates because they make estimates based on what the company is going to do and it looks like they are doing a little bit worse.

On a standpoint of earnings per share adjusted number expected was $3.96 and they were wrong.

Dated $3.99, so a little better managing to get them three cents below that.

What's interesting to me is that revenues are down again this quarter down to 23 $.7 billion down year-over-year four percent making it the seventh quarter in a row that ibm revenue numbers have fallen.

The big top line number is shrinking.

They say it's a good size and they try to tell people they will get to more profitable businesses but they have gotten a lot of benefit from reducing the share count and buying back.

I don't have the full release in front of me yet.

Announcing 23 point $7 billion in sales, three dollars $.90 and adjusted earnings per share.

-- $23.7 billion.

Again, business has been shrinking for nearly two years now from a revenue standpoint and i think the stock is trading off a little bit now.

Seven quarters in a row of falling revenue.

What is the problem?

They maintain their moving towards higher-margin businesses and getting rid of the crummy revenue but you can see a consistent trend at the year- over-year growth or lack thereof.

You see thing slowing down and into this negative turn it is becoming a much smaller company and it's hard to sell big i.t. sales right now.

The stock market at large has been off to the races but technology has been very mixed and we see that with these ibm results.

Add to that that call it $15 billion in acquisitions of the last few years.

Lots of acquisitions and yet you still see the following revenues.

They are changing the company but not making any bigger despite share buybacks and acquisitions.

It's tough out there for these big tech companies really struggling.

One place where revenues are

This text has been automatically generated. It may not be 100% accurate.

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