Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for October 17th, 2017

IBM 3Q 2017 Earnings

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IBM announced its third quarter 2017 earnings this afternoon.

Highlights

  • Diluted EPS from continuing operations: GAAP of $2.92; Operating (non-GAAP) of $3.30
  • Revenue of $19.2 billion
  • Strategic imperatives revenue of $34.9 billion over the trailing 12 months, up 10 percent; represents 45 percent of IBM revenue
    • Third-quarter revenue up 11 percent (up 10 percent adjusting for currency)
  • Cloud revenue of $15.8 billion over the trailing 12 months, up 25 percent year to year (up 26 percent adjusting for currency)
    • As-a-service annual exit run rate of $9.4 billion in the quarter, up 25 percent year to year (up 24 percent adjusting for currency)
  • Maintains full-year EPS and free cash flow expectations

“In the third quarter we achieved double-digit growth in our strategic imperatives, extended our enterprise cloud leadership, and expanded our cognitive solutions business,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “There was enthusiastic adoption of IBM’s new z Systems mainframe, which delivers breakthrough security capabilities to our clients.”

Written by turbotodd

October 17, 2017 at 3:49 pm

Posted in 2017, earnings, ibm, wall street

IBM 3Q 2017 Earnings

with one comment

IBM announced its third quarter 2017 earnings this afternoon.

Highlights

  • Diluted EPS from continuing operations: GAAP of $2.92; Operating (non-GAAP) of $3.30
  • Revenue of $19.2 billion
  • Strategic imperatives revenue of $34.9 billion over the trailing 12 months, up 10 percent; represents 45 percent of IBM revenue
    • Third-quarter revenue up 11 percent (up 10 percent adjusting for currency)
  • Cloud revenue of $15.8 billion over the trailing 12 months, up 25 percent year to year (up 26 percent adjusting for currency)
    • As-a-service annual exit run rate of $9.4 billion in the quarter, up 25 percent year to year (up 24 percent adjusting for currency)
  • Maintains full-year EPS and free cash flow expectations

“In the third quarter we achieved double-digit growth in our strategic imperatives, extended our enterprise cloud leadership, and expanded our cognitive solutions business,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “There was enthusiastic adoption of IBM’s new z Systems mainframe, which delivers breakthrough security capabilities to our clients.”

Written by turbotodd

October 17, 2017 at 3:49 pm

Posted in 2017, earnings, ibm, wall street

KRACK

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I just got back from chasing a little white ball around the Texas Hill Country for a week.

Upon my return, I discovered the wonderful news about the KRACK attack (who comes up with these names??!).

First, the Equifax breach, now this.

If you’re not familiar, the KRACK exploit has to do with a serious weakness discovered in the WPA2 protocol (wifi).

According to a rundown in Ars Technica, the exploit allows attackers within range of vulnerable device or access points to intercept passwords, emails, and other data presumed to be encrypted. In some cases, the report goes on, it could allow perpetrators to inject ransomware or other malicious content into a website a client is visiting.

You can learn more details about the exploit and fallout here.

FYI, it won’t help to change your wifi password. Microsoft has issued a Windows patch for the exploit, Mac has beta fixes in developer releases of iOS, macOS, tvOS and watchOS, and Android is expected to have a fix in the coming weeks.

Now, on to the more positive news. Yesterday, IBM announced a new blockchain banking solution that will help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.

TechCrunch captures the current situation and the blockchain remedy:

Currently, international transactions take days, if not weeks, to be completed. Frustration with that has seen services like TransferWise rise, but, great as they are, they remain solutions for savvy consumers or small businesses rather than all. A blockchain solution for banks addresses the root cause, and it could minimize the potential for errors thanks to the ledger-based system while also providing transparency and flexibility to banks. In one example, IBM said its service could be used to connect a farmer in Samoa with a buyer based in Indonesia, while covering more than just the payment itself. “The blockchain would be used to record the terms of the contract, manage trade documentation, allow the farmer to put up collateral, obtain letters of credit, and finalize transaction terms with immediate payment, conducting global trade with transparency and relative ease,” it said.
– via TechCrunch

Very cool stuff.

If you’re not yet on the blockchain, you can learn more here.

Written by turbotodd

October 17, 2017 at 8:32 am

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