Unisys (UIS -13.9%) plummets as its Q3 EPS beat (assisted by rising hardware margins) is...

|About: Unisys Corporation (UIS)|By:, SA News Editor

Unisys (UIS -13.9%) plummets as its Q3 EPS beat (assisted by rising hardware margins) is overshadowed by a revenue miss caused by a 15% Y/Y drop in services revenue. U.S. sales (-24% Y/Y) were particularly weak, thanks to a big drop in federal demand, and hardware revenue fell 10%, as rising server/mainframe sales were offset by lower reseller revenue. The results could have negative implications for bigger mainframe/services rival IBM. (transcript)