IBM Earnings Video IBM Bumps Up Forecast Again, but Revenue Falls Short
Date: 10/17/2011
IBM Earnings Video IBM Bumps Up Forecast Again, but Revenue Falls Short. IBM Reports 2011 Third-Quarter Results. IBM Slips After Hours: Q3 EPS Beats; Raises '11 EPS View
GAAP: $3.19, up 13 percent;
Operating (non-GAAP): $3.28, up 15 percent;
Revenue: $26.2 billion, up 8 percent, up 3 percent adjusting for currency;
Net income:
GAAP: $3.8 billion, up 7 percent;
Operating (non-GAAP): $4.0 billion, up 9 percent;
Pre-tax income:
GAAP: $5.0 billion, up 7 percent;
Operating (non-GAAP): $5.2 billion, up 10 percent;
Gross profit margin:
GAAP: 46.5 percent, up 1.2 points;
Operating (non-GAAP): 46.8 percent, up 1.5 points;
Software revenue up 13 percent, 8 percent adjusting for currency;
Services revenue up 8 percent, 2 percent adjusting for currency;
Services backlog of $137 billion, up $2.4 billion;
Systems and Technology revenue up 4 percent, 1 percent adjusting for currency:
Power Systems up 15 percent;
Growth markets revenue up 19 percent, 13 percent adjusting for currency;
Business analytics revenue up 19 percent year to date;
Smarter Planet revenue up 50 percent year to date;
Cloud revenue year to date has doubled full-year 2010 revenue;
Full-year 2011 Operating (non-GAAP) EPS expectations raised to at least $13.35 from at least $13.25.
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