IBM: beats consensus in 2nd quarter

(CercleFinance.com) - Wednesday evening, IBM unveiled stable net operating (non-GAAP) profit of 2.
8 billion dollars for the second quarter of 2019, or 3.17 dollars per share, making for an EPS nine cents above consensus.

The IT giant's turnover fell 4.2% to 19.2 billion dollars (-1.6% excluding exchange differences), and gross margins climbed 100 basis points to 47.4%, its greatest expansion in over five years.

IBM will update its annual targets on 2 August, to take into account the impact of the Red Hat acquisition, for which it is still awaiting “accretive to operating (non-GAAP) earnings per share by the end of the second year after closing”.

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