International Business Machines Corp. (IBM): Goat Today, Value Tomorrow

On Monday, International Business Machines Corp. (IBM) surprised Wall Street with better-than-expected first quarter earnings. Following the release, IBM stock lost nearly 5% as many continued to question the company’s turnaround plans. IBM’s earnings came in at $2.35 per share, surpassing analysts’ forecast of $2.09 per share. Revenue was also higher than expected at $18.7 billion, but traders were still wary as that figure marked the 16th straight quarter in which revenue declined. Compared to the previous years’ figures, IBM’s revenue fell 4.6%, and profit dropped an even more worrying 13.5%. The silver lining for IBM was its new business growth, or “strategic imperatives,” which includes initiatives like data analytics, cloud computing and artificial intelligence. Those parts of the business grew 14% over the past year. IBM’s cloud computing arm led…

Link to Full Article: International Business Machines Corp. (IBM): Goat Today, Value Tomorrow

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