2024-01-25 10:33:48 ET
Summary
- International Business Machines Corporation's Q4 results exceeded expectations, with EPS beating by 7 cents and revenue up 4% YoY, beating by $100 million.
- The company has guided for an impressive 7% jump in Free Cash Flow for FY 2024.
- CEO Arvind Krishna is delivering on his transformation promise as IBM is diversifying info multiple segments and sub-segments of revenue.
- IBM's dividend coverage looks strong, renewing hopes of a stronger dividend increase in 2024.
- The stock is technically overbought and maybe due for a pullback after gaining 30% in 6 months.
International Business Machines Corporation (IBM) reported its Q4 results last night, as Seeking Alpha has covered here . As a long-time IBM stockholder, I do not recall a single instance before this where the stock reacted as positively to a report and guidance as it has done this time. The stock is up almost 8% pre-market as of this writing....
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IBM Q4 Earnings: Dividend Coverage Check-In Passes Handily