IBM

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $8 to $150, 15.1x our ’24 EPS estimate, a discount to peers, reflecting ongoing operational challenges. We trim our ’23 EPS estimate by $0.03 to $9.52 and lower ’24’s by $0.18 to $9.95. IBM reported Q3 operating EPS of $2.20 vs. $1.81, $0.07 above the consensus. Q3 revenue increased 4.6%, with 6% growth in software revenue on strength in both Hybrid Platform & Solutions and Transaction Processing, as well as a 5% increase in Consulting, with strong signings performance and a book-to-bill ratio greater than 1.15, partially offset by a 3% decline in Infrastructure, driven by declines in Distributed Infrastructure and Infrastructure Support. Overall results came in ahead of expectations despite clients continuing to cut back on discretionary projects in […]

IBM (NYSE:IBM) reported Q2 non-GAAP EPS Wednesday of $2.18, down from $2.31 a year earlier. Analysts surveyed by Capital IQ expected $2.0. Revenue for the quarter ended June 30 was $15.48 billion, down from $15.54 billion a year earlier. Analysts surveyed by Capital IQ expected $15.57 billion. The company said it expects full-year 2023 revenue growth of 3% to 5% on a constant currency basis, unchanged from the previous outlook.