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20-10-2014, 09:16 PM
IBM sales is an indicator for global corporate capital expense...
IBM posts 4 percent drop in quarterly revenue, shares slump
International Business Machines Corp reported a 4 percent drop in quarterly revenue as client activity slowed in September, sending its shares down sharply in premarket trade.
Total revenue fell to $22.4 billion in the third quarter ended Sept. 30 from $23.34 billion a year earlier.
Analysts had expected revenue of $23.37 billion, according to Thomson Reuters I/B/E/S.
The world's largest technology services company's net profit from continuing operations fell to $3.46 billion, or $3.46 per share, from $4.14 billion, or $3.77 per share in the same quarter last year.
On an adjusted basis, the company earned $3.68 per share, missing the average analyst estimate of $4.31 per share.
"We are disappointed in our performance," Chief Executive Ginni Rometty said in a statement.
"We saw a marked slowdown in September in client buying behavior, and our results also point to the unprecedented pace of change in our industry," she said.
IBM's shares were down 7.3 percent at $168.73
...
http://www.todayonline.com/business/ibm-...ly-revenue
IBM posts 4 percent drop in quarterly revenue, shares slump
International Business Machines Corp reported a 4 percent drop in quarterly revenue as client activity slowed in September, sending its shares down sharply in premarket trade.
Total revenue fell to $22.4 billion in the third quarter ended Sept. 30 from $23.34 billion a year earlier.
Analysts had expected revenue of $23.37 billion, according to Thomson Reuters I/B/E/S.
The world's largest technology services company's net profit from continuing operations fell to $3.46 billion, or $3.46 per share, from $4.14 billion, or $3.77 per share in the same quarter last year.
On an adjusted basis, the company earned $3.68 per share, missing the average analyst estimate of $4.31 per share.
"We are disappointed in our performance," Chief Executive Ginni Rometty said in a statement.
"We saw a marked slowdown in September in client buying behavior, and our results also point to the unprecedented pace of change in our industry," she said.
IBM's shares were down 7.3 percent at $168.73
...
http://www.todayonline.com/business/ibm-...ly-revenue
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