ETFs In Focus On IBM's 4th Straight Quarter Of Revenue Drop
Zacks Investment Research | Jul 17, 2019 09:59PM ET
After the closing bell on Jul 17, International Business Machines (NYSE:IBM) reported earnings and revenues beat in second-quarter 2019.
Earnings per share came in at $3.17, surpassing the Zacks Consensus Estimate of $3.06 and the year-ago earnings of $3.08. Revenues fell 4.2% year over year to $19.16 billion, marking the fourth consecutive quarter of sales decline. However, the top line outpaced the consensus estimate of $19.11 billion.
Weakness in its legacy businesses, including mainframes and storage systems, offset growth in its high-margin cloud computing unit. Notably, cloud revenues increased 5% year over year to $19.5 billion (read: Zacks Investment Research
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