US Edition
IBM Is America's Worst Tech Company
UNITED STATES, JUL 24 – IBM's software revenue rose 10% to $7.39 billion but missed analyst estimates, causing shares to drop despite overall revenue growth of 8% and strong hardware sales.
- On Wednesday, International Business Machines Corp. reported $2.80 adjusted EPS and $16.98 billion revenue, yet shares fell 6% in extended trading.
- Investors sharpened focus on IBM’s software unit after IBM’s software unit rose 10% to $7.39 billion but missed consensus, and its 83.9% margin trailed expectations.
- Beyond software, hybrid cloud sales climbed 16%, led by Red Hat, and infrastructure revenue jumped 14% to $4.14 billion above forecasts.
- During the conference call, CFO Jim Kavanaugh noted that `Delayed decision making, especially in discretionary projects, as well as prior-year renewals impacted our in-period signings.`
- In its outlook, IBM expects over $13.5 billion in free cash flow for fiscal 2025 and anticipates at least 5% revenue growth at constant currency.
14 Articles
14 Articles
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IBM Is America's Worst Tech Company
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