Thread regarding IBM layoffs

You are comparing revenue with Q2 2020, worst hit quarter when Covid started

So how does 2021Q2 compare with 2019Q2 ?

There you go - Glad Systems didn't disappoint! Revenue in storage down - again! I guess this continues until 10% of nothing is nothing.

Saw that ↓ in Marketing channel. They are so brainwashed they just post that and everyone celebrate. They are all just sheeples that don't read for themselves.

"IBM shows strongest revenue growth in three years"
https://www.cnbc.com/2021/07/19/ibm-earnings-q2-2021.html

Fake news.

Yikes! Is this suppose to be comforting??

"Adjusted for currency and divestitures, revenue was about flat compared with a year earlier."

Sooo ... FLAT revenue compared to Q2 2020 in the depths of Covid??

https://www.barrons.com/articles/ibm-earnings-revenues-profits-forecasts-51626725197

Systems (includes Systems Hardware and Operating Systems Software) — revenues of $1.7 billion, down 7.3 percent (down 10.2 percent adjusting for currency), driven by declines in IBM Z (down 11 percent; down 13 percent adjusting for currency) and Storage Systems (down 7 percent, down 10 percent adjusting for currency). Power systems declined 2 percent (down 5 percent adjusting for currency). Cloud revenue down 16 percent (down 19 percent adjusting for currency).

I don't understand all the excitement, this is a complete delusion. You are comparing revenue with Q2 2020, worst hit quarter when Covid started. Also the growth is flat adjusting to currency changes etc. Wait until Google, Amazon, Microsoft post their earnings and then we can compare.

IBM had their strongest revenue growth in 3 years, I can't imagine how disappointed people on here must be.

Revenue growth. The company is saved. No more layoffs 😂

"Q2 Non-GAAP EPS of $2.33 beats by $0.04; GAAP EPS of $1.47 misses by $0.40."

And the media gloms onto the NON-GAAP number! Why and how does IBM get away with just dismissing "Generally Accepted Accounting Principles" (GAAP)??

Remember to compare 2021 with 2019 and take the square root of the ratio to get the annualized growth ignoring 2020 as if it never happened.

For example, if they earned $100 in 2019, $95 in 2020, and $101 in 2021, the ratio would be 1.01, so the square root is 1.00499, which would mean they grew annually at 0.499%.

I am guessing they will compare with 2020 and that comparison will look good - in the above example, they would say "we grew 6% YoY" which is technically true, but only because 2020 was so bad.

The emperor has no clothes.

I recon not...

Dieing easy, it's livin' that's hard...

It might show growth but we burned the furniture to stay warm. At some point, we’re going to realize we have no furniture.