Friday June 5, 2020

IBM results reflect challenge of turning around a tech giant

IBM’s move to the cloud, its attempts to offload low profit yielding businesses and a strong dollar are all affecting the tech giant

25th October, 2015
Ginni Rometty: IBM’s latest results are giving its chief executive plenty of food for thought Getty

IBM is aiming to remake itself as a provider of cloud computing and data analytics, a transition that carries risks even in the best of times.

With a looming global economic slowdown and a strong dollar crimping revenue earned overseas, where IBM gets the majority of sales, the company last week lowered its full-year profit forecast, excluding some items, to $15.25 per share, plus or minus 50 cents. That compares with analysts’ average projection for...

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