IBM Results Show Progress in Cloud and Data Analysis

April 18, 2016 Off By David

Grazed from NYTimes. Author: Steve Lohr.

IBM delivered a quarterly performance that shows the steady headway it is making in new businesses led by cloud computing and data-analysis software, like its Watson artificial intelligence technology. But the company’s transformation remains very much a work in progress. The erosion of some of its hardware and software products continues to be a drag on growth and profits, overshadowing the gains in the new fields.

IBM on Monday reported a 21 percent decline in net profit from continuing operations, to $2.3 billion in the first quarter that ended March 31. Its operating earnings per share fell 19 percent, to $2.35 a share, though that was above the average estimate of Wall Street analysts of $2.09 a share, as complied by Thomson Reuters…

The company’s first-quarter revenue declined 5 percent, to $18.7 billion. But that was ahead of analysts’ consensus forecast of $18.29 billion…

Read more from the source @ http://www.nytimes.com/2016/04/19/technology/ibm-results-show-progress-in-cloud-and-data-analysis.html?_r=0