Turbotodd

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

Posts Tagged ‘wall street

IBM Announces 2Q18 Earnings, Revenue Up 4% YOY

leave a comment »

IBM announced its 2Q 2018 earnings a few moments ago.

Some highlights:

  • GAAP EPS from continuing operations of $2.61; Operating (non-GAAP) EPS of $3.08; both up 5 percent
  • GAAP Pre-tax income up 14 percent; Operating (non-GAAP) pre-tax income up 11 percent — Pre-tax margins expanded more than 100 basis points year to year
  • Revenue of $20.0 billion, up 4 percent (up 2 percent adjusting for currency)
  • Strategic imperatives revenue of $39.0 billion over last 12 months, up 15 percent (up 12 percent adjusting for currency); represents 48 percent of IBM revenue
  • Cloud revenue of $18.5 billion over last 12 months, up 23 percent (up 20 percent adjusting for currency)
  • As-a-service annual exit run rate for cloud revenue of $11.1 billion in the quarter, up 26 percent year to year (up 24 percent adjusting for currency)
  • Maintains full-year operating (non-GAAP) EPS and free cash flow expectations

“We delivered strong revenue and profit growth in the quarter, underscoring IBM’s progress and momentum in the emerging, high-value segments of the IT industry,” said Ginni Rometty, IBM chairman, president and chief executive officer. “More clients are engaging IBM on their journey to the cloud, and deploying IBM Cloud, Watson AI, analytics, blockchain and security solutions. This demonstrates IBM’s unique leadership in providing innovative technology coupled with deep industry expertise, trust and security.”

Written by turbotodd

July 18, 2018 at 3:52 pm

Posted in 2018, earnings, wall street

Tagged with , , ,

Open Sesame

leave a comment »

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

leave a comment »

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

Tagged with , , ,

Live From IBM Pulse 2013: Chris Gardner And His Pursuit of Happyness

leave a comment »

Author, entrepreneur, and philanthropist Chris Gardner speaks to the Tivoli Business Partner Summit audience in Las Vegas about his trials and tribulations as a single father who, despite finding he and his infant son homeless on the streets of San Francisco, overcame his great adversity and inspired millions around the world, and in the process raised the world's consciousness about the perils of homelessness and the importance of parenting.

Author, entrepreneur, and philanthropist Chris Gardner speaks to the gathered Tivoli Business Partner Summit audience in Las Vegas about his trials and tribulations as a single father who, despite finding he and his infant son homeless on the streets of San Francisco, overcame his great adversity and inspired millions around the world, and in the process raised the world’s consciousness about the perils of homelessness and the importance of parenting.

You may not know Chris Gardner by name or by face. But if he told you that one of the world’s most bankable movie stars, one who travels with a four bodyguard security entourage, made a movie about his story, he might just get your attention, as he got mine when he kicked off this afternoon’s session at the Tivoli Business Partner Summit here at the MGM Grand in Las Vegas.

And that’s when Mr. Gardner explained that Will Smith was not going to be joining us, and also the first moment Chris Gardner had the audience in the palm of his hands, which he never let go for the ensuing 45 minutes.

If you don’t know the story behind the story behind “The Pursuit of Happyness,” then you’re missing out. But the irony wasn’t lost on Mr. Gardner, who joked that the people in “Hollyweird” spent $70 million to recreate a story he endured “for nothing.”

But as it turns out, it wasn’t for nothing, as it’s a story that has inspired people around the world, in the form of both a movie and a book, one which has been translated into six dialects of the Chinese language.

And it all started with an interview that Mr. Gardner almost didn’t  do with Barbara Walters for “20/20.”

But he did do the interview, which ran on a Friday, and on Monday the floodgates opened with calls wanting to exploit his story. Juxtapose that with another Friday he found himself in a Bay Area jail, a much longer weekend where he had to wait to get released so he could go and find his infant son.

Because ultimately, Gardner explained, that was his life’s work, a promise to himself: To break the cycle of failed fatherhood among black males, a promise he made when he was only five himself and didn’t have his own father around.

Soon, there was one call from the entertainment realm that interested him, one from Steve Tisch, a co-producer on “Forrest Gump” and part of a firm called “Escape Artists,” who convinced Gardner he wanted to help him share his story with the world through the form of a major motion picture.

Though Gardner was at first hesitant to okay Will Smith as the star — “This story is about inner space, not outer space” Gardner explained —  his daughter ultimately convinced him when she said “Papa, don’t worry.  If he can play Muhammad Ali he can play you.”

The key question everyone wanted to know, Gardner then continued, was “how do you become homeless?”

And his answer was, “life happens.”

He had worked his way into a great job at a local university, was soon married and an expectant father, and he was all about seizing opportunity.  After enduring for a period a cushy if modest lab equipment sales job, he one day saw a guy driving a Ferrari, which he offered to help find a parking spot for.  But he first wanted an answer to two questions:

“What do you do, and how do you do that?”

The answer was the guy was a stockbroker, cleared about $80,000 a month, and because Gardner was “pretty good with numbers,” decided that’s what he wanted to do with his life.

But as he again explained, “life happens,” and before he knew it he was destitute due to some accumulated parking tickets and some domestic woes at home.  Before he knew it, he was without a job, health care, and soon, even his wife and son.

It was a single policeman who, during his ten day jail stay, cut him some slack and allowed him to make a phone call so he could postpone the all-important stock trader assistant job position he was applying for.

Shortly thereafter, he was successful in getting the job, but he lost his wife and now had an infant son to take care of.  The boarding house he was staying in didn’t allow children, so he quickly found himself and his son on the streets of Oakland with no place to go.

It was at this point that Gardner explained that an estimated 23% of homeless people “have jobs and go to work everyday,” and that this problem has only grown through the economic downturn.

But through a series of ingenious, if challenging, moves, he found a way to take care of his son and endure the hard-nosed requirements of the new job, staying at times on the streets, at others in dime hotels, and yes, acceding to the kindness of strangers.

Including a reverend at a local homeless food distributor, Mo’s Kitchen, the proprietor of which saw Gardner standing in line with his infant son, an anomaly considering most of the kitchen’s visitors were homeless women with children.

“What are you doing with that baby?” the reverend asked one day.  “I’m gonna keep it,” Gardner explained.

And so every day for a year, that’s precisely what Gardner did.  “You would see me, my son, a stroller, one suit on my back and another in a hanging bag, and we hit the street, every day for a year.”

They slept outside, at airports (this was pre 9/11), a Union Station bathroom…wherever they could.  And Gardner observed the one thing his son remembers from this period was this: “Every time I looked up, my father was there.”

Gardner remembers, “He didn’t know we were homeless.”

And despite all else, Gardner stayed homeless, until such time that he could save enough money to find his own place, a small apartment not two blocks from the train station they once frequented for shelter.

Gardner went to explain that his son didn’t know that some of the times he ate, Gardner went hungry, or that sometimes he was able to get a hotel room only after first giving blood.  He didn’t know that, Gardner explained, “because that’s what fathers do.”

After spending their first night in their new home, Gardner’s son saw him leaving the apartment without carrying everything he owned, which he’d been forced to do for the better part of that year.

Gardner explained to him, “You know what son, we got a key now…we’re home.  We don’t have to carry stuff anymore.”

“That was the start of turning our lives around,” Gardner related, although it hadn’t come easy.  “After a year of struggle, I didn’t know how much more I could take when one day, my son, stood up in the bathtub, and said, ‘Papa, you know what?  You a good papa.’”

We know the rest of the story from the movie, and from Gardner’s retelling.  He went on to enjoy great success as a stock broker, ultimately arriving at Bear Sterns’ San Francisco office and making millions.

“Sometimes it’s okay to laugh all the way to the bank,” Gardner joked.

But through it all, Gardner never lost his perspective.

Much later, the great American poet Maya Angelou explained to Gardner that “This story ain’t even about you. This is about every mother who ever also had to be a father, and every father who ever also had to be a mother.”

This was about breaking the cycle of men who have not been there for their children.

And though you might not recognize Chris Gardner walking down the street if you ran right into him, he was there for his son.

And in the end, that’s all he really wanted any of us to know.

Written by turbotodd

March 3, 2013 at 11:56 pm

IBM 4Q 2012 Earnings Rise On Software Sales

with 3 comments

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

IBM Q1 2012 Earnings Out, Full Year Earnings Guidance Raised

leave a comment »

IBM just released its first quarter earnings announcement, which came in with diluted earnings of $2.61 per share, compared to $2.31 per share in the first quarter of last year, a 13% year-over-year increase.

First quarter income was $3.1 billion compared with $2.9 billion in the first quarter of 2011, an increase of 7 percent.

Total revenues for the first quarter of 2012 $24.7 billion, flat year over year but up 1 percent when adjusting for currency.

Here’s the top line:

  • Diluted EPS:
    • GAAP: $2.61, up 13 percent;
    • Operating (non-GAAP): $2.78, up 15 percent;
  • Net income:
    • GAAP: $3.1 billion, up 7 percent;
    • Operating (non-GAAP): $3.3 billion, up 9 percent;
  • Gross profit margin:
    • GAAP: 45.1 percent, up 0.9 points;
    • Operating (non-GAAP): 45.7 percent, up 1.2 points;
  • Revenue: $24.7 billion, flat, up 1 percent adjusting for currency;
  • Free cash flow of $1.9 billion, up $1.1 billion;
  • Software revenue up 5 percent, 7 percent adjusting for currency;
  • Services revenue up 1 percent:
    • Services pre-tax income up 11 percent;
  • Services backlog of $139 billion, down 2 percent, up 1 percent adjusting for currency;
  • Systems and Technology revenue down 7 percent, 6 percent adjusting for currency;
  • Growth markets revenue up 9 percent;
  • Business analytics revenue up 14 percent;
  • Smarter Planet revenue up more than 25 percent;
  • Cloud revenue doubled first-quarter 2011 revenue;
  • Full-year 2012 operating (non-GAAP) EPS expectations raised to at least $15.00 from at least $14.85.

“In the first quarter, we drove strong profit and earnings per share growth. We delivered another excellent software performance, expanded services margins, and continued the momentum in our growth initiatives,” said Ginni Rometty, IBM president and chief executive officer. “Our investments in growth market countries continued to generate strong revenue growth across software, hardware and services while contributing to the company’s ongoing margin expansion.

“Based on this performance, we are raising our 2012 full-year operating earnings per share expectations to at least $15.00.”

Written by turbotodd

April 17, 2012 at 8:30 pm

Market Meltdown

leave a comment »

Okay, okay, methinks I cursed the market.

I joked in yesterday’s post about hoping to avoid an economic meltdown, seeing as our U.S. Congress came through at the last minute with a debt ceiling bill.

Little did I know that only THEN would the market panic.

As an investor, and future retiree candidate, I’m not going to totally freak.  Like a good little investor, I’m in this for the long haul, what goes up must come down (and hopefully go back up again), and panicking didn’t do Chicken Little any good.

But Double-U Tee Eff!?!?!

I turn away from CNBC for a few hours to get some work done and the market sinks 500 points?! 

Not without some irony, I’ve been speaking with my financial adviser the last week, preparing for a possible meltdown.  We had the strategy all planned.  But that was assuming the meltdown would happen on Monday or Tuesday, or maybe over last weekend. 

NOT TWO DAYS LATER!

Okay, I feel better now.  I’m also going to turn lemons into lemonade. 

Buy low, sell high, right?  But maybe someone could warn me about the big hill in advance next time!

Well, back to techland.  Scott Laningham, my trusted developerWorks amigo and podcasting guru, finally got back into the studio, so to speak, to record a recent episode.  We talked about Operation RAT, the Google/IBM patent deal, and the 30th birthday of the IBM Personal Computer.

Check it out here. 

Me, I’m off to lick my investing wounds.

Oh, and if you don’t hear from me next week, that’s ‘cause I’m going to do a little vacating.  But I’m sure it won’t last nearly long enough, and you’ll hear from me again very soon.

Written by turbotodd

August 4, 2011 at 10:23 pm

%d bloggers like this: