- IBM (NYSE:IBM) +4.5% reports Q4 beats with a 0.1% Y/Y revenue growth, breaking the streak of five consecutive Y/Y declines.
- Revenue breakdown: Global Technology Services, $6.95B (consensus: $6.99B); Cloud and Cognitive Software, $7.24B (consensus: $7.12B); Global Business Services, $4.24B (consensus: $4.26B); Systems, $3.04B (consensus: $2.84B).
- Total cloud revenue was up 21% to $6.8.
- Red Hat revenue was up 24% to $1.07B, normalized for historical comparability.
- For FY20, IBM sees operating EPS of at least $13.35 (consensus: $13.29) and FCF of about $12.5B.
- Earnings call starts at 5 PM ET with a webcast here.
- Press release.