IBM Reports 2021 First-Quarter Results
Highlights
Revenue of $17.7 billion, up 1 percent (down 2 percent adjusting for currency) Cloud Cognitive Software up 4 percent (up 1 percent adjusting for currency) Systems up 4 percent (up 2 percent adjusting for currency) Global Business Services up 2 percent (down 1 percent adjusting for currency)
Total cloud revenue of $6.5 billion, up 21 percent (up 18 percent adjusting for divested businesses and currency) Cloud revenue of $26.3 billion over last 12 months, up 19 percent (up 18 percent adjusting for divested businesses and currency)
Red Hat revenue up 17 percent (up 15 percent adjusting for currency), normalized for historical comparability
GAAP gross profit margin of 46.3 percent, up 120 basis points; Operating (non-GAAP) gross profit margin of 47.3 percent, up 110 basis points
Red Hat and off-prem see growth while revenue, profit down overall Share
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IBM on Thursday reported $20.4bn in revenue for its Q4 2020 earnings results, a decline of six per cent, and $73.6bn for the full year, down 4.6 per cent year-on-year.
That led to profits plummeting by 42 per cent for the year, even after it experienced cloud growth in certain areas. Financial analysts had anticipated something more like $20.67bn on average, leading to disappointment that manifested in an after-hours share price decline of about six per cent.
CEO Arvind Krishna, who took over in April 2020, tried to put a positive spin on things. We made progress in 2020 growing our hybrid cloud platform as the foundation for our clients digital transformations while dealing with the broader uncertainty of the macro environment, he said in a statement. The actions we are taking to focus on hybrid cloud and AI will take hold, giving us confidence we can achieve revenue growth in 2021.
3 months ago
ARMONK, N.Y.–(BUSINESS WIRE)–
IBM (NYSE: IBM) today announced fourth-quarter and full-year 2020 earnings results.
“We made progress in 2020 growing our hybrid cloud platform as the foundation for our clients’ digital transformations while dealing with the broader uncertainty of the macro environment,” said Arvind Krishna, IBM chairman and chief executive officer. “The actions we are taking to focus on hybrid cloud and AI will take hold, giving us confidence we can achieve revenue growth in 2021.”
Highlights
GAAP EPS from continuing operations of $1.41; Operating (non-GAAP) EPS of $2.07 EPS includes the impact of a pre-tax charge of more than $2.0 billion for structural actions in the fourth quarter
Published January 20, 2021, 11:30 AM
Delta took the CES stage this week for the third consecutive year as Molly Battin, V.P. – Global Brand Marketing, talked about Delta’s efforts to use technology to better connect with employees and customers.
The panel, moderated by WIRED acting Editor-in-Chief Megan Greenwell, also featured Norman DeGreve, CVS Health Chief Marketing Officer, and Bob Lord, IBM Senior Vice President – Cognitive Applications, Blockchain and Ecosystems.
Delta is currently working with CVS Health on a first-of-its-kind comprehensive COVID-19 employee testing program and has a long-time partnership with IBM, through which new tech like quantum computing is now being explored to enable even better customer experiences throughout travel. Together, the trio discussed a range of timely topics, from how COVID-19 has impacted customer expectations to how each company is using tech to guide smarter decisions as we emerge from the pandemic.