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2021-10-21

Missing revenue forecast again. Bad management

IBM revenue misses on weakness in legacy infrastructure unit

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Bad management","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/853388558","repostId":2177443940,"repostType":4,"repost":{"id":"2177443940","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1634772216,"share":"https://www.laohu8.com/m/news/2177443940?lang=&edition=full","pubTime":"2021-10-21 07:23","market":"us","language":"en","title":"IBM revenue misses on weakness in legacy infrastructure unit","url":"https://stock-news.laohu8.com/highlight/detail?id=2177443940","media":"Reuters","summary":"Oct 20 (Reuters) - IBM on Wednesday missed market estimates for third-quarter revenue as its managed","content":"<p>Oct 20 (Reuters) - <a href=\"https://laohu8.com/S/IBM\">IBM</a> on Wednesday missed market estimates for third-quarter revenue as its managed infrastructure business suffered from a decline in orders ahead of a spinoff next month.</p>\n<p>IBM stock down over 4% as revenue misses estimates.</p>\n<p><img src=\"https://static.tigerbbs.com/391a9922a7b3dfc09dd9192c424515ae\" tg-width=\"849\" tg-height=\"620\" width=\"100%\" height=\"auto\"></p>\n<p>The lower-margin, legacy unit provides technical support to IBM's clients and has shrunk in recent years as companies move to the cloud, becoming a drag on Big Blue's earnings.</p>\n<p>Revenue at the global technology services unit, which houses the business set to be called Kyndryl after the spinoff, fell 4.8% to $6.15 billion in the quarter ended Sept. 30.</p>\n<p>The slowdown in sales has prompted 110-year-old IBM to shift focus to hybrid-cloud, an area where it sees a $1 trillion market opportunity, to boost growth and better compete with Amazon.com Inc and Microsoft Corp .</p>\n<p>Hybrid-cloud involves enterprises using a combination of their own data centers and leased computing resources to store and process data. Demand has surged for the service during the pandemic from businesses expanding their digital offerings.</p>\n<p>IBM's total revenue rose marginally to $17.62 billion, missing analysts' average estimate of $17.77 billion, according to Refinitiv data. Revenue growth also suffered due to a near 12% decline at the unit that includes its mainframe computers business.</p>\n<p>But revenue adjusted for the Kyndryl separation was 2.5% higher.</p>\n<p>The unit that houses IBM's consulting business grew 11.6% to $4.43 billion as clients spent more and enterprises turned to the company to digitize their operations.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IBM revenue misses on weakness in legacy infrastructure unit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIBM revenue misses on weakness in legacy infrastructure unit\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-10-21 07:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Oct 20 (Reuters) - <a href=\"https://laohu8.com/S/IBM\">IBM</a> on Wednesday missed market estimates for third-quarter revenue as its managed infrastructure business suffered from a decline in orders ahead of a spinoff next month.</p>\n<p>IBM stock down over 4% as revenue misses estimates.</p>\n<p><img src=\"https://static.tigerbbs.com/391a9922a7b3dfc09dd9192c424515ae\" tg-width=\"849\" tg-height=\"620\" width=\"100%\" height=\"auto\"></p>\n<p>The lower-margin, legacy unit provides technical support to IBM's clients and has shrunk in recent years as companies move to the cloud, becoming a drag on Big Blue's earnings.</p>\n<p>Revenue at the global technology services unit, which houses the business set to be called Kyndryl after the spinoff, fell 4.8% to $6.15 billion in the quarter ended Sept. 30.</p>\n<p>The slowdown in sales has prompted 110-year-old IBM to shift focus to hybrid-cloud, an area where it sees a $1 trillion market opportunity, to boost growth and better compete with Amazon.com Inc and Microsoft Corp .</p>\n<p>Hybrid-cloud involves enterprises using a combination of their own data centers and leased computing resources to store and process data. Demand has surged for the service during the pandemic from businesses expanding their digital offerings.</p>\n<p>IBM's total revenue rose marginally to $17.62 billion, missing analysts' average estimate of $17.77 billion, according to Refinitiv data. Revenue growth also suffered due to a near 12% decline at the unit that includes its mainframe computers business.</p>\n<p>But revenue adjusted for the Kyndryl separation was 2.5% higher.</p>\n<p>The unit that houses IBM's consulting business grew 11.6% to $4.43 billion as clients spent more and enterprises turned to the company to digitize their operations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2177443940","content_text":"Oct 20 (Reuters) - IBM on Wednesday missed market estimates for third-quarter revenue as its managed infrastructure business suffered from a decline in orders ahead of a spinoff next month.\nIBM stock down over 4% as revenue misses estimates.\n\nThe lower-margin, legacy unit provides technical support to IBM's clients and has shrunk in recent years as companies move to the cloud, becoming a drag on Big Blue's earnings.\nRevenue at the global technology services unit, which houses the business set to be called Kyndryl after the spinoff, fell 4.8% to $6.15 billion in the quarter ended Sept. 30.\nThe slowdown in sales has prompted 110-year-old IBM to shift focus to hybrid-cloud, an area where it sees a $1 trillion market opportunity, to boost growth and better compete with Amazon.com Inc and Microsoft Corp .\nHybrid-cloud involves enterprises using a combination of their own data centers and leased computing resources to store and process data. Demand has surged for the service during the pandemic from businesses expanding their digital offerings.\nIBM's total revenue rose marginally to $17.62 billion, missing analysts' average estimate of $17.77 billion, according to Refinitiv data. Revenue growth also suffered due to a near 12% decline at the unit that includes its mainframe computers business.\nBut revenue adjusted for the Kyndryl separation was 2.5% higher.\nThe unit that houses IBM's consulting business grew 11.6% to $4.43 billion as clients spent more and enterprises turned to the company to digitize their operations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":841,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":41,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/853388558"}