Turbotodd

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

Archive for the ‘earnings’ Category

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

Apple Earnings And AirPods

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Apple announced its latest earnings report, and while the company doesn’t typically break out sales of its Apple Watch, Cook did note that the revenue in the last year from Apple’s wearables business was “the size of a Fortune 500 company.”

As The Verge pointed out, the smallest Fortune 500 company “pulled in $5.1 billion in revenue last year.”

The Apple announced its latest earnings report, and while the company doesn’t typically break out sales of its Apple Watch, Cook did note that the revenue in the last year from Apple’s wearables business was “the size of a Fortune 500 company.” wearables business consists of the Apple Watch, the Beats headphones, and the company’s newest entrant, AirPods (more on those in a moment).

As The Verge pointed out, the smallest Fortune 500 company “pulled in $5.1 billion in revenue last year.”

The Apples wearables business consists of the Apple Watch, the Beats headphones, and the company’s newest entrant, AirPods (more on those in a moment).

CNBC reported that Apple iPhone unit shipments were off the mark, selling 50.8M against a 52M expectation. And while 451 Research highlights that smartphone buying intent has fallen to a nine-year low, Wall Street projections suggest some 300M iPhones could be set for an upgrade this fall.

It could be needed, as Mac growth was tepid at 4 percent YOY, iPad units fell 13 percent YOY, and Apple’s China sales fell 12 percent YOY.

On the upside, the App Store was up 40 percent and Apple’s developer community grew by over 20 percent, according to Cook.

Now back to those AirPods.

They seem to be a sleeper hit. You can’t find them anywhere, save for maybe Craig’s List, and I’ve been told there’s at least a six week wait.

So while Apple may have missed on their AirPods demand forecast, those folks who *do* have them in hand (or, in ear, as it were) seem to love them madly.

Tech.pinion’s Ben Bajarin partnered with Experian to track down 942 people willing to take a quick AirPods user survey. Customer sat with the AirPods is at 98%! — that’s 82 percent “Very Satisfied” and 16% “Satisfied.”

That’s a record for customer sat for a new product from Apple, according to Bajarin. He points out that the iPhone had a 92 percent customer sat level when it was released in 2007, and the Apple Watch came close at 97 percent in 2015.

The Net Promoter Score for AirPods is also off the charts at 75 (the iPhone’s NPS is 72).

Writes Bajarin: Product and NPS specialists will tell you anything above 50 is excellent and anything above 70 is world class.

So what gives? Bajarin suggests it’s partially the fact that AirPods users are most likely early adopters, so they’re going to be inclined to love the product.

But I also have to think the fact that these are the first wireless ear buds from Apple, ones which automagically synch up with Apple devices (Macs, iPhones, iPads, etc.), and have good sound and battery life are big contributors to their speedy success.

And, based on some of the survey verbatims, they just seem to work better than prior Bluetooth headphones.

Imagine that. A new product that just works.

CNBC reported that Apple iPhone unit shipments were off the mark, selling 50.8M against a 52M expectation. And while 451 Research highlights that smartphone buying intent has fallen to a nine-year low, Wall Street projections suggest some 300M iPhones could be set for an upgrade this fall.

It could be needed, as Mac growth was tepid at 4 percent YOY, iPad units fell 13 percent YOY, and Apple’s China sales fell 12 percent YOY.

On the upside, the App Store was up 40 percent and Apple’s developer community grew by over 20 percent, according to Cook.

Now back to those AirPods.

They seem to be a sleeper hit. You can’t find them anywhere, save for maybe Craig’s List, and I’ve been told there’s at least a six week wait.

So while Apple may have missed on their AirPods demand forecast, those folks who *do* have them in hand (or, in ear, as it were) seem to love them madly.

Tech.pinion’s Ben Bajarin partnered with Experian to track down 942 people willing to take a quick AirPods user survey. Customer sat with the AirPods is at 98%! — that’s 82 percent “Very Satisfied” and 16% “Satisfied.”

That’s a record for customer sat for a new product from Apple, according to Bajarin. He points out that the iPhone had a 92 percent customer sat level when it was released in 2007, and the Apple Watch came close at 97 percent in 2015.

The Net Promoter Score for AirPods is also off the charts at 75 (the iPhone’s NPS is 72).

Writes Bajarin: Product and NPS specialists will tell you anything above 50 is excellent and anything above 70 is world class.

So what gives? Bajarin suggests its partially the fact that AirPods users are most likely early adopters, so they’re going to be inclined to love the product.

But I also have to think the fact that these are the first wireless ear buds from Apple, ones which automagically synch up with Apple devices (Macs, iPhones, iPads, etc.), and have good sound and battery life are big contributors to their speedy success.

And, based on some of the survey verbatims, they just seem to work better than prior Bluetooth headphones.

Imagine that. A new product that just works.

Written by turbotodd

May 3, 2017 at 9:52 am

IBM Reports 1Q2017 Financial Results

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IBM today announced first-quarter earnings results for 2017.

Highlights included:

  • Diluted EPS from continuing operations: GAAP of $1.85; Operating (non-GAAP) of $2.38
  • Revenue from continuing operations of $18.2 billion
  • Strategic imperatives revenue of $7.8 billion in the quarter, up 12 percent (up 13 percent adjusting for currency)
  • Strategic imperatives revenue of $33.6 billion over the last 12 months represents 42 percent of IBM revenue
  • Cloud revenue of $14.6 billion over the last 12 months
  • Cloud as-a-Service annual exit run rate of $8.6 billion in the quarter, up 59 percent year to year (up 61 percent adjusting for currency)
  • Maintains full-year EPS and free cash flow expectations.

 

“In the first quarter, both the IBM Cloud and our cognitive solutions again grew strongly, which fueled robust performance in our strategic imperatives,” said Ginni Rometty, IBM chairman, president and chief executive officer.  “In addition, we are developing and bringing to market emerging technologies such as blockchain and quantum, revolutionizing how enterprises will tackle complex business problems in the years ahead.”

You can see the full announcement here.

Written by turbotodd

April 18, 2017 at 3:11 pm

A Public Snap

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Tech earnings season kicked into high gear this week. A few synthesized highlights…

Apple reported $78.4B in Q1 2017 revenue, with 78.3M iPhones sold and a 19% decline in iPad sales. Apple said developers earned $20B from the App Store in 2016, a 40% increase.

Microsoft reported Q2 revenue of $26.1B, indicating Office 365 revenue grew 10% for the quarter. Microsoft indicated its Azure revenue increased 116% in the most recent quarter, “doubling usage.” Surface was down 2% YOY, Phone revenue down 81%.

Facebook reported Q4 revenue of $8.81B, indicating its mobile ad revenue was on a trajectory of bringing in 84% of all ad revenue. Their Monthly Active Users was 1.86B, up 3.91% for the quarter, and last quarter the company said it’s expecting to run out of ad space in mid-2017. It’s not clear whether this sent digital media buyers everywhere scurrying or not.

Amazon reported Q4 revenue of $43.7B, up 22% YOY, and AWS continued to chug forward growing at 47% and delivering revenue of $3.53B. AWS noted it had migrated more than 18K databases using the company’s service in 2016. Echo sales were up 9X compared to last holiday season. “Alexa, crank up the volume.”

And finally, there’s Snap (formerly known as Snapchat). TechCrunch reported their official IPO filing has their revenues at $404M in 2016 with some 158M daily users. That was 500% YOY growth, according to its S-1, but that also incurred a $513M net loss. But Snap has asserted it has a very aggressive “time spent per user” and has strong international growth in Western Europe and Australia. It also recently introduced its Ads API to widen the aperture on its advertising efforts. Its IPO is expected to be the largest tech float since Alibaba in 2014.

Written by turbotodd

February 3, 2017 at 9:16 am

IBM 4Q 2012 Earnings Rise On Software Sales

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IBM announced this afternoon fourth-quarter 2012 diluted earnings of $5.13 per share, compared with diluted earnings of $4.62 per share in the fourth quarter of 2011, an increase of 11 percent.

Fourth-quarter net income was $5.8 billion compared with $5.5 billion in the fourth quarter of 2011, an increase of 6 percent. Total revenues for the fourth quarter of 2012 of $29.3 billion decreased 1 percent (flat adjusting for currency) from the fourth quarter of 2011.

“We achieved record profit, earnings per share and free cash flow in 2012. Our performance in the fourth quarter and for the full year was driven by our strategic growth initiatives — growth markets, analytics, cloud computing, Smarter Planet solutions — which support our continued shift to higher-value businesses,” said Ginni Rometty, IBM chairman, president and chief executive officer.

“Looking ahead, we continue to invest to deliver innovations for the enterprise in key areas such as big data, mobile solutions, social business and security, while expanding into new markets and reaching new clients. We are well on track toward our long-term roadmap for operating EPS of at least $20 in 2015.”

Following are key details of 4Q 2012 earnings:

Fourth-Quarter 2012

Diluted EPS:

GAAP: $5.13, up 11 percent;

Operating (non-GAAP): $5.39, up 14 percent;

Net income:

GAAP: $5.8 billion, up 6 percent;

Operating (non-GAAP): $6.1 billion, up 10 percent;

Gross profit margin:

GAAP: 51.8 percent, up 1.8 points;

Operating (non-GAAP): 52.3 percent, up 2.1 points;

Revenue of $29.3 billion, down 1 percent, flat adjusting for currency:

Up 1 percent excluding divested RSS business adjusting for currency;

Free cash flow of $9.5 billion, up $0.6 billion;

Software revenue up 3 percent, up 4 percent adjusting for currency;

Services revenue down 2 percent, down 1 percent adjusting for currency;

Services backlog of $140 billion, flat, up $1 billion adjusting for currency;

Systems and Technology revenue down 1 percent, up 4 percent excluding RSS:

System z mainframe up 56 percent.

Full Year 2012

Diluted EPS, up double-digits for 10th consecutive year:

GAAP: $14.37, up 10 percent;

Operating (non-GAAP): $15.25, up 13 percent;

Net income:

GAAP: $16.6 billion, up 5 percent;

Operating (non-GAAP): $17.6 billion, up 8 percent;

Revenue of $104.5 billion, down 2 percent, flat adjusting for currency;

Free cash flow of $18.2 billion, up $1.6 billion;

Growth markets revenue up 4 percent, up 7 percent adjusting for currency:

BRIC countries up 7 percent, up 12 percent adjusting for currency;

Business analytics revenue up 13 percent;

Smarter Planet revenue up more than 25 percent;

Cloud revenue up 80 percent.

Full-Year 2013 Expectation:

GAAP EPS of at least $15.53 and operating (non-GAAP) EPS of at least $16.70.

Written by turbotodd

January 22, 2013 at 9:45 pm

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