IBM Shares Slide After Q3 Revenue Miss; Red Hat Deal Fails to Boost 2019 Outlook
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Zitat:International Business Machines (IBM - Get Report) shares were indicated sharply lower in pre-market trading Thursday after the group posted disappointing third quarter earnings in the first full update to include its $34 billion acquisition of Linux-maker Red Hat.
IBM said non-GAAP earnings for the three months ending in September came in at $2.68 per share, down 21.6% from the same period last year but a penny ahead of the Street consensus forecast. Group revenues, IBM said, fell 3.9% to $18 billion, missing analysts' forecasts of an $18.29 billion tally.
IBM's cloud and cognitive software unit, the division in which it placed Red Hat, saw revenues rise 6.4% to $5.28 billion, while IBM's IBM's cloud services revenues rose 11% to $5 billion. Global technology services, IBM's biggest division, saw revenues fall 5.6% to $6.7 billion.
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