IBM 3Q17 earnings are set for release tonight after closing bell, and Wall Street is expecting adjusted earnings of $3.28 per share on $18.57 billion in sales. In last year’s third quarter, the company reported $3.29 per share in adjusted earnings on $19.23 billion in revenue.
It should be noted that IBM’s revenues have been declining steadily quarter after quarter, for several years as it transitions from its older to its newer “imperatives.” The company probably didn’t hit its revenue floor during the third quarter, but investors have been watching for a reversal for a long time. Roughly half of IBM’s revenues in the second quarter came from its newer imperatives, according to UBS, but there is still more to be done in this area.
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A related issue in the IBM 3Q17 earnings report will be the quality of the company’s earnings, a