International Business Machines Corp. Beats On Earnings, Light On Revenue

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International Business Machines Corp. Beats On Earnings, Light On Revenue

International Business Machines released the earnings results from its third quarter after closing bell tonight, posting adjusted earnings of $3.34 per share, a 9% year over year decline, on revenue of $19.28 billion (from continuing operations). Analysts had been expecting IBM to report earnings of $3.30 per share and revenue of $19.62 billion. In last year’s third quarter, the company posted earnings of $3.68 per share on $22.4 billion in revenue.

International Business Machines’ earnings fall

GAAP earnings fell 13% year over year to $3.02 per share. Non-GAAP operating margin for continuing operations was 50%, an increase of 80 basis points. GAAP gross margin was 48.9%, an increase of 40 basis points.

Bonhoeffer Fund July 2022 Performance Update

Screenshot 27Bonhoeffer Fund's performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more The Bonhoeffer Fund returned 3.5% net of fees in July, for a year-to-date return of -15.8%.   Bonhoeffer Fund, LP, is a value-oriented private investment partnership for . . . SORRY! This content is exclusively for Read More

IBM said revenue from its strategic imperatives climbed 27% year over year after adjusting for currencies and divestures. On a reported basis, it increased 17%. Cloud revenue climbed by more than 65% when adjusting for currencies and divestures but onl