Mid Day Daily

Sunday, April 11, 2021
Log in
  • Home
  • National & International
  • Business & Financials
  • Technology
  • Health
  • Science
  • About Us
    • Our Staff
    • Contact Us
    • Privacy Policy GDPR
    • Terms of Use
  • Latest News
    • Sloths Were Declared the Slowest Animals on Earth
    • Facebook’s Messenger Will Give You the 411 on Non-Friends
    • Fun Facts About the Coconut Crab
    • The Coyote Hunting in Wisconsin might be Banned
    • Autism Was Genetically Introduced In Monkeys
    • Tully Monster Has Many More Mysteries Left To Offer
    • Mom Claims Daughter Was Forced To Get Naked To Pass Exam In School
    • What Happens When Two Planets Collide?
    • FDA Approves the BrainPort Vision Device That Gives Hope To The Blind
    • Two Cretaceous Plankton-Eating Fish Species Were Discovered
    • Columbia University Researchers Store Computer Information on DNA Strand

Pages

  • About Midday Daily
  • Contact Us
  • Our Staff
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Indiana Jones 5 Won’t Open in 2020 After All June 29, 2018
  • ‘Oumuamua is Actually a Comet, Not an Asteroid (Study) June 28, 2018
  • Best Evidence of Alien Life on Saturn’s Moon Enceladus, Found (Study) June 28, 2018
  • Jeremy Irons to Star in HBO’s Watchmen Reboot June 27, 2018
  • The Fermi Paradox: We Might Be Alone in the Universe (Study) June 26, 2018
  • The Strawberry Moon and Who It Will Affect June 26, 2018
  • Tom Holland Reveals Spider-Man: Homecoming Sequel Title June 25, 2018
You are here: Home / Business & Financials / IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

October 19, 2017 By Kurt Cottrell Leave a Comment

Email, RSS Follow

ibm offices

International Business Machines Corporation or IBM for short has been dealing with disappointing numbers for the last five years. However, the latest fiscal quarter report proved investors that the organization still holds a lot of value to them. Therefore, the company announced greater sales expectations for the last quarter of the year.

As of lately, IBM redirected all its efforts towards modern services such as cloud and data analytics. However, the expected boost in sales is slated to come from one of its legacy hardware projects.

IBM Had the Luxury to Set Higher Sales Expectations for the Fourth Quarter of the Year

The fourth-quarter revenue is expected to extend to somewhere between $22 billion to $22.1 billion. This projection marks a 1.5% boost by comparison to same period last year’s income. The target is also defying analysts’ average estimates of $21.8 million.

The report on third-quarter performance improved confidence in the last three months of the year. Sales expectations will be topped thanks to IBM’s new mainframe server. On Tuesday, Chief Financial Officer Martin Schroeter claimed that the last quarter of the year is going to receive waves of revenue boost that can come to an addition of $2.9 billion.

If IBM manages to deliver this target revenue, the company will end a 22-quarter streak of low sales. Chief Executive Officer Ginny Rometty has been working towards growth since the beginning. The performance of this year’s third quarter is the proof investors have been waiting for to confirm that the company has the capacity to recover from its five-year decline.

On the other hand, analysts know that the mainframe business does not provide long-term effects. Therefore, the latest positive numbers might signal just a temporary improvement. IBM has to develop other projects such as cloud software and services to be able to sustain constant growth.

The third quarter recorded $19.5 billion which is only 1% below the performance attained one year ago. Nonetheless, this number beat analysts’ estimations of $18.6 billion. Most of the sales came from hardware department, yet the software products didn’t underperform either. Cognitive solutions which include innovative products such as Watson analytics grew 3.9%. In the end, late trading increased shares by 5.3% to $154.33.

Image source: 1

Email, RSS Follow

Filed Under: Business & Financials

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 10 other subscribers

Recent Articles

USPS van

Chinese Drug Dealers Shipping Drugs to U.S. via Postal Service

January 28, 2018 By Dean Lamori

Marlboro cigarette packs

Philip Morris Wants to Help You Quit Smoking

January 6, 2018 By Dean Lamori

Drugs and money

Drug Company Sued for Bribing Doctors to Prescribe Potent Opioid

December 24, 2017 By Dean Lamori

Smartphone user sitting on sidewalk

Calif. Health Dept: Excess Smartphone Use Can Cause Brain Cancer

December 17, 2017 By Dean Lamori

jared kushner

Kushner Plans to Revamp 666 Fifth Avenue Skyscraper, Partner Isn’t Supportive

November 2, 2017 By Tom Hager

elon musk

Elon Musk Shares Progress He Made with Boring Company on Twitter

October 30, 2017 By John Cooper

starbucks mugs

Starbucks Takes Halloween Seriously with New Zombie Frappuccino

October 28, 2017 By Kurt Cottrell

ecigarette

New York to Treat eCigarettes Same Way as Regular Cigarettes in Public Indoor Areas

October 26, 2017 By Tom Hager

amazon box

Amazon Warehouse Delivered Couple’s Requested Storage Containers with 65 Pounds of Weed

October 25, 2017 By Kurt Cottrell

ibm offices

IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

October 19, 2017 By Kurt Cottrell

dubai police supercars

Dubai Police to Patrol the City from Above Thanks to Multirotor Hoverbikes

October 16, 2017 By John Cooper

marketing stunt for rick and morty

Woman Received Volkswagen Car for One Legendary Szechuan Sauce Pack from McDonald’s

October 14, 2017 By Amanda Lane

honeywell center

Honeywell to Turn Two Units into Publicly Traded Companies by 2019

October 12, 2017 By Tom Hager

self-driving car

New AI Project Will Help Autonomous Cars See What’s Around Corners

October 11, 2017 By Sam Doliente

Related Articles

  • USPS van

    Chinese Drug Dealers Shipping Drugs to U.S. via Postal Service

    Jan 28, 2018
  • Marlboro cigarette packs

    Philip Morris Wants to Help You Quit Smoking

    Jan 6, 2018
  • Drugs and money

    Drug Company Sued for Bribing Doctors to Prescribe Potent Opioid

    Dec 24, 2017
  • Smartphone user sitting on sidewalk

    Calif. Health Dept: Excess Smartphone Use Can Cause Brain Cancer

    Dec 17, 2017
  • jared kushner

    Kushner Plans to Revamp 666 Fifth Avenue Skyscraper, Partner Isn’t Supportive

    Nov 2, 2017
  • elon musk

    Elon Musk Shares Progress He Made with Boring Company on Twitter

    Oct 30, 2017
  • starbucks mugs

    Starbucks Takes Halloween Seriously with New Zombie Frappuccino

    Oct 28, 2017
  • ecigarette

    New York to Treat eCigarettes Same Way as Regular Cigarettes in Public Indoor Areas

    Oct 26, 2017
  • amazon box

    Amazon Warehouse Delivered Couple’s Requested Storage Containers with 65 Pounds of Weed

    Oct 25, 2017
  • dubai police supercars

    Dubai Police to Patrol the City from Above Thanks to Multirotor Hoverbikes

    Oct 16, 2017

Categories

  • Business & Financials
  • Entertainment
  • Health
  • National & International
  • Nature
  • Science
  • Technology
  • U.S.
  • World

Copyright © 2021 MidDayDaily.com

About · Privacy Policy · Terms of Use · Contact