Turbotodd

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

Archive for the ‘earnings’ Category

IBM 1Q18 Earnings: EPS Beats @ $2.45

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IBM’s 1Q18 earnings were just announced, and beat estimates on EPS of $2.42 per share at $2.45, and revenue at $19.1 billion (vs. estimates of $18.84 billion).

CNBC’s report highlights:

Last quarter, IBM announced revenue growth from the year-ago quarter for the first time in more than five years. That streak is now continuing for a second quarter.

But the company reaffirmed its previous guidance of $13.80 in earnings per share, excluding certain items, for the full year of 2018, while analysts polled by FactSet had expected $13.83 per share, according to Thomson Reuters.

Cantor Fitzgerald analysts led by Joseph Foresi said in a Friday note that they expect IBM to report gains from companies upgrading to IBM’s latest mainframe computer, the z14.

IBM continues to seek growth from its strategic imperatives, which include social, mobile, analytics and cloud. In the fourth quarter that group contributed 49 percent of all revenue, and the Cantor analysts expect that balance to be unchanged in the first quarter.

With respect to guidance, for the second quarter analysts expect IBM to forecast $3.05 in earnings per share, excluding certain items, on $19.9 billion in revenue, according to Thomson Reuters.

Written by turbotodd

April 17, 2018 at 3:19 pm

Posted in 2018, earnings, ibm

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Open Sesame

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Lest my blog become too Western-centric, it’s time to return to the China Internet watch, this time for Alibaba’s earnings.

Please remember, Jack Ma’s empire is vast and ever-expanding, with businesses that include two of the world’s largest and most popular online retail marketplaces, Taobao and Tmall, an affiliation with Ant Financial, its new Digital Media and Entertainment Group, and Alibaba.com and Alipay (among others).

Earlier today, Alibaba Group Holding Ltd. indicated its third-quarter revenue jumped 56 percent, beating expectations, according to a report from Reuters.

The group also raised its full year forecast, and announced its 33 percent stake in Ant Financial. 

As Reuters reports, Alibaba is looking for new areas such as cloud computing, payments, and offline retail to maintain its rapid growth rates that make it one of the world’s most valuable companies, with a current market cap of $523 billion.

Alibaba’s cloud business was reported to have crossed 1 million customers globally in the quarter ended last September.

In other words, Alibaba is huuugggeee, and getting huger all the time.

Written by turbotodd

February 2, 2018 at 9:37 am

Apple Earnings

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Apple announced its fiscal 2018 first quarter earnings this afternoon, posting quarterly revenue of $88.3 billion, a 13 percent YOY increase and all-time record. International sales accounted for 65 percent of its quarter’s revenue, according to a press release put out by Apple.

We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.

9to5 Mac helped break Apple’s unit sales down by product line:

  • 77.3 million iPhones
  • 13.2 million iPads
  • 5.1 million Macs

The company earned $20.1 billion in profit.

But Engadget notes that this was “the first time iPhone sales have declined during a holiday quarter since the phone launched, best as we can tell,” suggesting an iPhone market saturation.

Yet even if Apple overshot its forecast for iPhone X sales and is ramping down production, “Apple says the iPhone X has been the top-selling iPhone every week since it shipped in early November.”

One other bright spot: The “other products” category, which includes the Apple Watch, AirPods, Beats hardware, and other products, where revenue increased 70 percent YOY up to $5.5 billion.

Perhaps AirPods have finally hit their stride, with supply now starting to finally match demand (they appeared 6-week backlogged for the better part of a year!).

Written by turbotodd

February 1, 2018 at 4:01 pm

Posted in 2018, apple, earnings

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IBM 4Q17 Earnings: Growth is Back

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IBM today announced fourth-quarter and full-year 2017 earnings results. Highlights:
 
• Fourth-quarter GAAP EPS from continuing operations of $(1.14)
    — Includes a one-time charge of $5.5 billion associated with the enactment of U.S. tax reform
•    Fourth-quarter operating (non-GAAP) EPS of $5.18
    — Excludes the one-time charge of $5.5 billion associated with the enactment of U.S. tax reform
    — Consistent with the basis of previously-provided 2017 expectations
•    Fourth-quarter revenue of $22.5 billion, up 4 percent (up 1 percent adjusting for currency)
•    Full-year strategic imperatives revenue of $36.5 billion, up 11 percent; represents 46 percent of IBM revenue
    — Fourth-quarter strategic imperatives revenue up 17 percent (up 14 percent adjusting for currency)
•    Full-year cloud revenue of $17.0 billion, up 24 percent year to year
    — As-a-service annual exit run rate of $10.3 billion in the quarter, up 20 percent year to year (up 18 percent adjusting for currency)

“Our strategic imperatives revenue again grew at a double-digit rate and now represents 46 percent of our total revenue, and we are pleased with our overall revenue growth in the quarter,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “During 2017, we strengthened our position as the leading enterprise cloud provider and established IBM as the blockchain leader for business.  Looking ahead, we are uniquely positioned to help clients use data and AI to build smarter businesses.”

You can see the full details here.

Written by turbotodd

January 18, 2018 at 3:18 pm

Posted in 2018, earnings, ibm, wall street

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

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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 Reports 2017 Second-Quarter Results

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IBM reported 2017 second-quarter results…highlights:

  • Diluted EPS from continuing operations: GAAP of $2.48; Operating (non-GAAP) of $2.97
  • Revenue from continuing operations of $19.3 billion
  • Strategic imperatives revenue of $34.1 billion over the trailing 12 months, up 11 percent (up 12 percent adjusting for currency); represents 43 percent of IBM revenue
    • First half revenue up 8 percent (up 10 percent adjusting for currency)
    • Second quarter revenue up 5 percent (up 7 percent adjusting for currency
  • Cloud revenue of $15.1 billion over the trailing 12 months
  • As-a-service annual exit run rate of $8.8 billion in the quarter, up 30 percent year to  year (up 32 percent adjusting for currency)
  • Maintains full-year EPS and free cash flow expectations

“In the second quarter, we strengthened our position as the enterprise cloud leader and added more of the world’s leading companies to the IBM Cloud,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “We continue to innovate, adding regtech capabilities to our portfolio of Watson offerings; developing solutions based on emerging technologies such as Blockchain; and reinventing the IBM mainframe by enabling clients to encrypt all data, all the time.”

More details here.

Written by turbotodd

July 18, 2017 at 3:10 pm

Posted in 2017, earnings, ibm, wall street

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