- IT services demand "depends on what the economic climate is, and that has not been very encouraging," says Erich Clementi, head of IBM's Global Technology Services (GTS) unit. "Europe has shown signs of recovery. North America has been a little more uncertain.”
- The remarks comes less than two months after a big Q3 revenue miss blamed on a mixture of macro issues (particularly in emerging markets) and sales execution.
- Though IBM's services backlog was flat Q/Q and up 2% Y/Y in Q3 to $141B, GTS revenue fell 4% Y/Y and global business services revenue fell 5%. Together, the businesses accounted for 59% of IBM's revenue, and 51% of its op. profit.
IBM exec offers cautious macro view
Dec 11 2013, 17:11 ET