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Shares in IBM are trading a little lower pre-market on Tuesday following the group’s Q3 earnings release yesterday. IBM posted third-quarter earnings per share of $2.58. Revenues came in at $17.56 billion, narrowly beating expectations for a $17.54 billion result.
Revenues Declines Again
Despite the revenues beat, revenues have actually declined now for three consecutive quarters, with the Q3 result marking a 2.5% reduction from the prior quarter. The pattern of declining quarterly revenues is a theme being closely watched by investors and raises worrying questions about the performance of new CEO Arvind Krishna.
IBM’s business has been heavily impacted by the COVID 19 pandemic due to its exposure to business sectors such as retail and transportation. These, of course, have been severely disrupted over the course of the pandemic.
Business Separation Announced
On October 8th Krishna announced a big change for IBM. He noted that the firm’s managed infrastructure services section of the I...
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