IBM - IBM's So-So Quarter Was Actually Better Than It Seems
The critics have a point. International Business Machines (NYSE: IBM) may have topped its first-quarter sales and earnings forecasts, but its sales fell again on a currency-adjusted basis, as did its operating income. Operating earnings per share fell 4% to $1.77 from $1.84 in the year-ago period.
And bear in mind that the pandemic was already rattling the world during the first quarter of 2020, crimping many corporations' results before last March came to a close. The bar for IBM was set pretty low to begin with.
However, there's a reason IBM shares climbed by 4% in response to Monday's post-close release of its Q1 numbers . Big Blue is showing serious progress on one metric that arguably matters more than the top or bottom lines do right now: cash flow. The company is producing more and more of it, and continued growth is in the cards.
For further details see:
IBM's So-So Quarter Was Actually Better Than It Seems