Mini-Ginni, a.k.a., AK following right in his predecessor's footsteps.
https://www.cnbc.com/2020/10/19/ibm-earnings-q3-2020.html
5 replies (most recent on top)
The stick shaker has gone off, and the computer voice is saying “pull up” AK if you wait till Dec 2021 to restructure IBM, you are toast When you can’t provide the street with visibility, which you did yesterday, they will vote with their feet. You need to restructure much faster and get it behind you. Go BIG as incremental toe dips are resulting in the stock crashing
IBM has announced a 2.3 billion 4th q charge to address stranded costs (their words). So what are those stranded costs, and where might they reside? Anyone have any inputs? I believe a good portion of those costs are in systems division, and IBM will take the charge to move to an IP type of structure vs the current structure. That’s how you harvest legacy investment for the future IBM did that with GF and the chip division, and they will most likely do that with their HW (server) division
Isn't it something like 28 of the past 30 quarters had declining revenue?
What do you expect? Executive management destroyed the company.
Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus.
Oh dear