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IBM - International Business Machines News Story

$144.68 0.5  0.4%

Last Trade - 14/05/21

Large Cap
Market Cap £91.71bn
Enterprise Value £123.92bn
Revenue £52.34bn
Position in Universe 100th / 6846

BUZZ-IBM rises as cloud strength powers return to sales growth after a year

Mon 19th April, 2021 10:14pm
** Shares of Big Blue  IBM.N  rise 2.3% to $136.15 in
extended trading 
    ** IBM returns to sales growth in Q1 after a year of
declines boosted by its bets in the high-margin cloud computing
    ** Q1 rev rose 1% to $17.73 bln vs Wall Street est of $17.35
bln - Refinitiv data
    ** Rev from cloud computing services jumped 21% to $6.5 bln
    ** "The company's cloud bets, and in particular, enterprise
hybrid cloud solutions are the key catalyst to its long-term
growth" - Daniel Newman, analyst at Futurum Research
    ** Mainframe saw strong traction from the financial services
industry, where banking clients shopped for more capacity as
trading volumes soared during the retail trading frenzy - CFO
James Kavanaugh 
     ** "This is a good start to the year for the company that
is all-in on the cloud. I think IBM's best days are in front of
it" - Patrick Moorhead, analyst at Moor Insights & Strategy
    ** Excluding items, Q1 EPS was $1.77 per share, above est.
of $1.63 per share 
    ** Up to Monday's close, stock rose ~6% 

 (Reporting by Chavi Mehta and Munsif Vengattil in Bengaluru)
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