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More on IBM's Q2: Forex impacted revenue by $1B. Free cash flow was $3.7B, below net income of...

More on IBM's Q2: Forex impacted revenue by $1B. Free cash flow was $3.7B, below net income of $4.1B. Services backlog closed at $136B, down from $139B at end of Q1. Software revenue growth flat Y/Y (+5% in Q1), services -3%, and hardware -9%, with server, storage, and chip sales all declining. EMEA revenue -9%, offsetting slight growth in Americas and Asia-Pac. EPS beat fueled by 120 bps Y/Y increase in gross margin to 47.6%, and $3B worth of stock buybacks. IBM +1.7% AH. (PR)

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Comments (1)
  • montanamark
    , contributor
    Comments (1444) | Send Message
     
    why is this exciting? revenue is down (missed by 500mil), software is flat and the much touted service area is down 9%; eurozone down 9%; before they touted euro business as great diversification
    looks like they did what they did on the numbers by buying back stock and somehow improving margin
    18 Jul 2012, 10:10 PM Reply Like
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