INTERNATIONAL BUSINESS MACHINES CORPORATION COM STK USD0.20 (CDI) (IBM)

Sector:

IT Services

$ 118.95
   
  • Change Today:
    $0.00
  • 52 Week High: $149.0
  • 52 Week Low: $118.9
  • Currency: US Dollars
  • Shares Issued: 912.77m
  • Volume: 2,388
  • Market Cap: $108,574m

IBM revenues slump amid Covid-19

By Iain Gilbert

Date: Tuesday 21 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Tech giant IBM saw revenues slump 5.4% in the second quarter as customers reduced their spending on traditional applications and hardware amid the Covid-19 pandemic.
Revenue for the three months ended 30 June fell to $18.1bn from $19.2bn a year earlier, while net income was down 46% to $1.36bn and earnings per share slid from $3.17 each to $2.18.

IBM's global business services unit, which includes consulting, posted a 7% decline in revenues to $3.9bn, while global technology services revenues, which had been impacted by the secular shift to cloud spending, dropped 8% to $6.3bn.

However, IBM said it had seen some benefit from a shift in IT spending to cloud-based products, with a 30% hike in cloud revenues in the most recent quarter to $6.3bn.

While the figures were dour, they still managed to top estimates on the Street for revenues of $17.7bn and EPS of $2.07.

As of 1340 BST, IBM shares were up 5.05% in pre-market trading at $132.75 each.

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IBM Market Data

Currency US Dollars
Share Price $ 118.95
Change Today $ 0.00
% Change 0.00 %
52 Week High $149.0
52 Week Low $118.9
Volume 2,388
Shares Issued 912.77m
Market Cap $108,574m

IBM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
22.98% below the market average22.98% below the market average22.98% below the market average22.98% below the market average22.98% below the market average
15.60% above the sector average15.60% above the sector average15.60% above the sector average15.60% above the sector average15.60% above the sector average
Income Not Available
Growth
49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average
76% below the sector average76% below the sector average76% below the sector average76% below the sector average76% below the sector average

What The Brokers Say

Strong Buy 7
Buy 0
Neutral 11
Sell 0
Strong Sell 2
Total 20
buy
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IBM Dividends

  Latest Previous
  Q1 Q4
Ex-Div 09-May-22 10-Feb-22
Paid 10-Jun-22 10-Mar-22
Amount 165.00¢ 164.00¢

Trades for 20-May-2022

Time Volume / Share Price
19:02 1 @ $126.28
18:54 0 @ $126.29
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