One of the largest technology companies in the world posted impressive second quarter 2021 earnings
International Business Machines Corporation (IBM) reported an EPS of $2.33 on revenues of $18.75 billion. The figures topped the $2.29 earnings per share, and $18.29 billion revenue expected by analysts.
According to the company’s statement, revenue grew 3% year-over-year in the quarter, marking the fastest increase in three years. IBM’s Global Technology Services segment, which focuses on managing services, outsourcing and support, delivered $6.34 billion in revenue, counting for most of the overall revenue.
In Q2 2021, IBM made $1.75 billion worth of acquisitions, the most in a single quarter since Q3 2019 when it closed the $34 billion Red Hat deal. It purchased myInvenio – a process-mining software company, Turbonomic – an application-management company, and Waeg – Salesforce consulting company.
For the full year, IBM expects revenue to continue its upward trajectory rather than decline. CEO Arvind Krishna stated: “With the economy reopening in many parts of the world, many markets and industries are getting back on track. We see this in North America and in select industries. […] The overall spend environment continues to improve.”
After the news, IBM shares rose 4%. Since the beginning of the year, the company’s shares gained 9%, while USA500 added almost 13%.
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.