This page has been archived and commenting is disabled.
IBM Jumps 2% After Hours After Earnings Beat, Guidance Hike, Despite Margin Miss
From the Press release:
-
Diluted EPS:
- GAAP: $2.31, up 17 percent;
- Operating (non-GAAP): $2.41, up 21 percent; Above consensus of $2.30
-
Revenue: $24.6 billion, up 8 percent, up 5 percent adjusting for
currency; Above consensus of $24.0 billion -
Gross profit margin:
- GAAP: 44.1 percent, up 0.5 points; Below consensus of 44.6%
- Operating (non-GAAP): 44.5 percent, up 0.8 points;
-
Net income:
- GAAP: $2.9 billion, up 10 percent;
- Operating (non-GAAP): $3.0 billion, up 13 percent;
-
Pre-tax income:
- GAAP: $3.8 billion, up 9 percent;
- Operating (non-GAAP): $4.0 billion, up 12 percent;
- Software revenue excluding divested PLM operations up 10 percent, 8
percent adjusting for currency; 6 percent including PLM, 4 percent
adjusting for currency; -
Systems and Technology revenue up 19 percent, 16 percent adjusting
for currency; - System z mainframe revenue up 41 percent; MIPS up 34 percent;
- Services revenue up 6 percent, 3 percent adjusting for currency;
- Services backlog of $142 billion, up $8 billion;
-
Growth markets revenue up 18 percent, 12 percent adjusting for
currency; - Business analytics revenue up 20 percent;
- Smarter Planet revenue up 20 percent;
- Cloud revenue 5 times first-quarter 2010 revenue;
-
Full-year 2011 Operating (non-GAAP) EPS expectations raised to at
least $13.15 from at least $13.00.
And the balance:
IBM (NYSE:IBM - News) today announced first-quarter 2011 diluted earnings of
$2.31 per share, compared with diluted earnings of $1.97 per share in
the first quarter of 2010, an increase of 17 percent. Operating
(non-GAAP) diluted earnings were $2.41 per share, compared with
operating diluted earnings of $2.00 per share in the first quarter of
2010, an increase of 21 percent.
First-quarter net income was $2.9 billion compared with $2.6 billion in
the first quarter of 2010, an increase of 10 percent. Operating
(non-GAAP) net income was $3.0 billion compared with $2.6 billion in the
first quarter of 2010, an increase of 13 percent.
Total revenues for the first quarter of 2011 of $24.6 billion increased
8 percent (5 percent, adjusting for currency) from the first quarter of
2010.
“We delivered a strong first quarter with revenue growth across
hardware, software and services and with more than 40 countries growing
in double digits. We continued to see excellent momentum in our growth
initiatives - smarter planet, cloud, business analytics, and growth
markets - which bring together the full value of the IBM portfolio,"
said Samuel J. Palmisano, IBM chairman, president and chief executive
officer. "We achieved broad-based margin improvement, while our cash
flow and strong financial position enabled us to continue to return
value to our shareholders.
"On the strength of this performance, we are raising our full-year 2011
operating earnings per share expectations to at least $13.15.”
First-Quarter GAAP – Operating (non-GAAP) Reconciliation
First-quarter operating (non-GAAP) diluted earnings exclude $0.10 per
share of charges: $0.09 per share for the amortization of purchased
intangible assets and other acquisition-related charges, and $0.01 per
share for retirement-related charges driven by changes to plan assets
and liabilities primarily related to market performance.
Full-Year 2011 Expectations
IBM raised its expectations for full-year 2011 GAAP diluted earnings per
share to at least $12.73 from at least $12.56; and operating (non-GAAP)
diluted earnings per share to at least $13.15 from at least $13.00. The
2011 operating (non-GAAP) earnings exclude $0.42 per share of charges
for amortization of purchased intangible assets, other
acquisition-related charges, and retirement-related charges driven by
changes to plan assets and liabilities primarily related to market
performance.
Geographic Regions
The Americas’ first-quarter revenues were $10.3 billion, an increase of
9 percent (8 percent, adjusting for currency) from the 2010 period.
Revenues from Europe/Middle East/Africa were $7.8 billion, up 3 percent
(2 percent, adjusting for currency). Asia-Pacific revenues increased 12
percent (4 percent, adjusting for currency) to $5.9 billion. OEM
revenues were $600 million, up 13 percent compared with the 2010 first
quarter.
Growth Markets
Revenues from the company’s growth markets increased 18 percent (12
percent, adjusting for currency). Revenues in the BRIC countries —
Brazil, Russia, India and China — increased 26 percent (22 percent,
adjusting for currency). Growth markets revenue represents 21 percent of
IBM’s total geographic revenue for the first quarter.
Services
Total Global Services revenues increased 6 percent (3 percent, adjusting
for currency). Global Technology Services segment revenues increased 6
percent (3 percent, adjusting for currency) to $9.9 billion. Global
Business Services segment revenues were up 7 percent (3 percent,
adjusting for currency) at $4.7 billion.
Global Services pre-tax income increased to $1.9 billion, up 34 percent
year over year. Pre-tax income from Global Technology Services increased
29 percent and pre-tax margin increased to 12.2 percent (10 percent and
13.3 percent, respectively, when adjusted for workforce rebalancing
charges in the first quarters of 2010 and 2011). Global Business
Services pre-tax income increased 44 percent and pre-tax margin
increased to 13.0 percent (19 percent and 14.0 percent, respectively,
when adjusted for workforce rebalancing charges in the first quarters of
2010 and 2011).
The estimated services backlog at March 31 was $142 billion, up $8
billion year over year at actual rates ($1.5 billion, adjusting for
currency).
Software
Revenues from the Software segment were $5.3 billion, an increase of 6
percent (4 percent, adjusting for currency), or 10 percent (8 percent,
adjusting for currency) excluding the first-quarter 2010 divestiture of
the Product Lifecycle Management operations (PLM), compared with the
first quarter of 2010. Software pre-tax income of $1.7 billion was down
18 percent (up 9 percent when adjusted for the gain on the sale of IBM’s
PLM operations in first-quarter 2010 and for workforce rebalancing
charges in the first quarters of 2010 and 2011) year over year.
Revenues from IBM’s key middleware products, which include WebSphere,
Information Management, Tivoli, Lotus and Rational products, were $3.3
billion, an increase of 16 percent (14 percent, adjusting for currency)
versus the first quarter of 2010. Operating systems revenues of $542
million increased 9 percent (7 percent, adjusting for currency) compared
with the prior-year quarter.
Revenues from the WebSphere family of software products increased 51
percent year over year. Information Management software revenues
increased 13 percent. Revenues from Tivoli software increased 8 percent.
Revenues from Lotus software increased 1 percent, and Rational software
increased 5 percent.
Revenues from the company’s business analytics operations across
services and software segments increased 20 percent.
Hardware
Revenues from the Systems and Technology segment totaled $4.0 billion
for the quarter, up 19 percent (16 percent, adjusting for currency) from
the first quarter of 2010. Systems and Technology pre-tax income was
$132 million, an increase of $329 million.
Systems revenues increased 18 percent (16 percent, adjusting for
currency). Revenues from System z mainframe server products increased 41
percent compared with the year-ago period. Total delivery of System z
computing power, as measured in MIPS (millions of instructions per
second), increased 34 percent. Revenues from Power Systems increased 19
percent compared with the 2010 period. Revenues from System x increased
13 percent. Revenues from System Storage increased 10 percent, and
revenues from Retail Store Solutions increased 18 percent year over
year. Revenues from Microelectronics OEM increased 23 percent.
Financing
Global Financing segment revenues decreased 4 percent (6 percent,
adjusting for currency) in the first quarter to $516 million. Pre-tax
income for the segment increased 22 percent to $519 million.
»
- 4403 reads
- Printer-friendly version
- Send to friend
- advertisements -
lol beet
an earnings beet.
"Earnings Beet"! Does that mean that, despite that fact that it was pulled out of some moist brown stuff, it is still a sweet, purple-colored treat?
DID I TELL THE LOSERS TO BTFD???
HEHE
WHAT IF YOU UNDERSTAND DEEPLY WHAT QEs ARE?
IF YOU DID ALL OF ABOVE? YOU WOULD HAVE MADE A TON OF MONEY!!!!!
Not sure if you are sarcastic or not. Or you could distrust everything, have purchased silver, and 'made' a ton of money.
p.s. Please stop shouting.
Probably means it will be down 5% tomorrow.
or now....
Happens four times per year. Not on IBM...but on INTC. It prints its high right about now, and sells into oblivion the following day, taking the tech trade down with it. And so the chimps are printing the top and setting the short on it...'nother day, 'nother counterfeit dollar printed, jammed into a bank, fed into a computer, pooled up, jacked in...and scalped.
The New American Marxist/Banker Party would like to thank you for chasing cars.
INTC is like a sterile bull. It just sits there and eats people's wealth.
Dead weight on four hoofs.
Are you sure you're not talking about CSCO?
At least INTC pays a measley dividend. CSCO is a true black hole.
Brother Truth,
Was it you or brother Cog...who wrote last qtr that after a $50 run it will be time to short NFLX? Either way, it looks like tomorrow might be that day.
As for Intel and Cisco...these names remain hung over from 2001. It is amazing...but there it is. The Nasdaq is Apple...period. Until tomorrow, that is.
Hell of a fake, shitty world...
Had to have been CogDis.
The easy money in this festering pig of a casino has been made. That writing is on the wall.
When it all burns down again this year, the sheeple who get sheared will get that thousand yard, glazed look in their eyes.
But at least there are fewer of them participating in the parlor vs 3 years ago.
Great thing currency destruction for earnings surging past guestimates eh....
Dont forget Jnpr, Up $2.00.
Heh, my INTC is skying 6% in the after life.
And so many of you guys were dissing me big time for buying that last week.
LOL.........
take the money and run. the chart looks horrible. but nice trade anyways.
Great job on INTC....excellent earnings and balance sheet....
Short sellers getting creamed after hours.
ah dewd, u spoke a little too soon. i'm seeing ibm going red. 163. ooops. something someone said?
No problem, Robo will now just say he sold the top.
He bought it at the 09 bottom at just sold about 15% minutes ago before it gapped down...like he does with every stock.
Robo,
What are you talking about? Assless jeans have not budged. Burritos...nothin'. The snap back in steel stocks...oh, what a sickly rally....classic UnicornDew powered move.
As for the winners, they could not wait even five minutes to sell them...
I'm concerned, Robo. Are you well today?
In what stock? IBM?
Made a major mistake and inadvertently junked
RT's comment. Will not happen again, 1st time on
this site, very new, sorry.
Watch it gap down now.
Look at the valuation of IBM - this is more insane than 2007, especially with what there is to look forward to.
Make sure you don't Seven Out, mofos.
Massive P/E's, eeking out small Special Olympics earnings pole vaults over a bar buried in the ground.
...and the trade is already over. Don't you love the New America?
Just great...well guys like Robo are impressed.
You know Dog....if I only had $8 billion from POMO and a super computer co located in the room next to where Duncan Niederauer takes his afternoon dump, I coulda made that sweet trade, too.
Now...three hours of jibber jabber, reverse psycology, we know that you know that we know bobbing and weaving, followed by, "Historically cheap valuations that long term investors should...." yada yada...and bingo...profit!
Who needs a fucking job anymore? Just print money and give it to me!
The only question regarding DC and this entire mess is...who is going to have the courage to drag Ben Bernanke out of that damn Eccles building...and save the nation. Everything else is hyperbole.
Drive by with high pressure fire hoses and evict them like rats!
The price of gold alone should inform those who have the power to remove Ben Bernanke from his station. It is not complicated...like criminal syndicate Wall Street bankers would like to make you think.
And indeed, a fire hose would be the best method....'cause that would shut down all those co located computers in the room next to where Duncan Niederauer takes his afternoon crap...which would be a nice secondary effect.
What's margin compression? Just BTFD....
Just another Harvard term that Louis Rukeyser used to throw around back in the Flintstone days that means shit today. You know, Hindenberg Omen, Death cross, EPS, PE. Who cares? BTFD
Probably buy some Toyota tomorrow. That thing is down big from the highs. Nikkei futures getting bounced hard right now.
Someone should set up a retail crossing network where we can deal directly and bypass the parasites. I'll gladly take the other side of your trades Robo. Just buzz me everytime you have a brainfart.
Sellin' more calculators, bitchezzz! (Sorry. Longtime reader but first comment. I've been dying to do that.)
Strange they didn't mention all the layoffs that somehow went under the media radar.
MCD HIRED 50,000 HOMELESS TODAY...RELAX
Anyone just hear Piper Intel Analyst on Bloomberg? guy was talking silly
Probably see a lot of hedge funds take profits in GLD and SLV to chase some of these tech stock screamers bouncing off the lows.
You're probably right. And what will happen is GLD and SLV will blip down a nano-fart before continuing their 10 year bull run whilst that shyte you pimp will continue to devalue. Dont worry though RT , whilst this system is intact there will always be a welfare check for you and a project to move into. Heaven forbid when the system inevitably implodes though - turning tricks for the local mack isnt going to be enough anymore.
Sucker.
HOLY SLAP SHOT BATMAN IBM hit the shithouse....lol
I think we'll see a lot more failure and hindsight from you.
The vitriol you unleash for merely commenting on the mentality that drives the markets is undeserved.
Takes serious software to keep track of this ponzi.
Short into this pop right now. This is a guaranteed slam dunk fade within a week.
Week? More like 5 minutes.
No doubt, that was a nice profit if you hit it at 164-165...
Youre right , i was working on 2010 timeline. This ponzi is RIP. The juice is running out boyz. As someone here signs off :
prepare accordingly.
TD somebody read this and slammed it...nice headfake
I wonder what percentage of the U.S. revenue gains were from the Federal and state governments....
I could feel risk back on today...lulu VMW SINA ZIP...just like old times (last week)
Yup. With the parents out of town, the children will play. No volume so it's sort of a 'moot' week unless you're a nimble trader.
Now gapping down
Pig stock.
Intel's a huge pig. That's the real fade.
LULZ
Intel does it every single quarter. Might as well coin it, "Reversal, powered by Intel."
If IBM was performing as well as silver for the year, it would be at $220. I don't think the afterhours bump is going to be enough to cover that gap.
What bump?
Robo is already losing 2% on the AH trade. With his monopoly money.
It will probably end up down 10% by Friday.
WASHINGTON, D.C. – April 14, 2011 – The Association of American Railroads (AAR) today reported weekly rail traffic gains with U.S. railroads originating 293,798 carloads for the week ending April 9, 2011, up 1.8 percent compared with the same week last year. Intermodal volume for the week was also up 12.4 percent compared with the same week last year, totaling 228,713 trailers and containers.
Eleven of the 20 carload commodity groups posted increases from the comparable week in 2010. Those groups posting significant increases included: metallic ores, up 59.2 percent; motor vehicles and equipment, up 28.9 percent, and grain, up 16.5 percent. The commodity groups reporting a notable drop in weekly traffic were primary forest products, down 33.2 percent, coke, down 16.7 percent, and waste and nonferrous scrap, down 12.8 percent.
Weekly carload volume on Eastern railroads was down 0.3 percent compared with the same week last year. In the West, weekly carload volume was up 3.3 percent compared with the same week in 2010.
For the first 14 weeks of 2011, U.S. railroads reported cumulative volume of 4,067,747 carloads, up 4.8 percent from last year, and 3,084,940 trailers and containers, up 9.0 percent from the same point in 2010.
http://www.aar.org/AAR/NewsAndEvents/Freight-Rail-Traffic/2011/04/14-rai...
SPALDING! Hey LTNS...hows that silver short goin BTW?
What up G .....
I have never shorted anything. I'm just giving the heads up before Uncle Ben announces no more QE and the bottom falls out. And the economy is getting better, its no longer needed.
Have you had the Enduro out yet ? I'll be on mine all summer .....
Well I certainly agree there, the bottom is about to fall out. SURE Ive had the XR650 out just yesterday!
Thanks for posting something from last week. That's what the Internet is all about. /snark
Spalding , im gonna need a gardener next year. I'll be paying 1 ounce of silver for a days labor - my roses require alot of shit shovelling to maintain their beauty. Drop me a mail @ shitshovelling4suckers.com when your job swallowing govn seed drys up. Im a decent boss.
Did you buy GLUU you dumb fuck, its been up over 100% since my first post about that play or MPEL at $6.00 or any of the runners I've tossed out ..... Mr. Momo could you give me some picks for the next 12 weeks ?
Also, tell your old lady to put down the nachos and do some fucking yard work.
First , give me my hook back son , then take a seat. I dont give a fuck about your spivvy punts.
I am long precious , paper and physical , and shorting financials everytime i add to my gold and silver. You stick with your high beta penny stock blow-ups but when you're crawling around my front yard for empty nacho packets you better be prepared to work. And once you're on the payroll you'll call the old lady Ma'am.
Good luck cos you'll need it.
Nice none answer.
So you want to pick 5 paper metal miners over the next 12 weeks, I'll pick 5 stocks. Loser gives ZH $100.00 ..... ?
You stupid cunt. Read my second sentence. I dont throw darts. I'll stick with what has paid off over the medium and long term. I'll be collecting on both sides of my trade.
And i'll donate 200 bucks to ZH this weekend from the interest i earn holding real cash.
Now fuck off to a yahoo msg board to pimp your penny stocks.
Sure you did pussy ..... Next.
Or did you buy CAT at $80 or RIMM at $44 or X at $44 or ZEUS at $22 or XOM at $64..... Penny what ?
Mr. fucking momo can't even toss out some runners for all the ZH readers ..... Sigh
Payment made. If you're a troll for ZH you're good. I suspect you're just another useless paper trader. Now i'm done with you - keep up the good work punting on the pink sheets and when you need that job buck up your manners (i dont junk , so dont blame me)
Silver up 440% since I first started posting about it.
You want a pick for the next 12 weeks? Silver, bitch.
And the starting date for that was ......... ????? GLUU is up over 100% in 12 weeks. I'll take GLUU over silver for the next 12 also .....
lol, you do that. Go all in, 95+%, like I am with silver. Maybe you can give up shining the shoes of corrupt politicians.
But probably not.
Lol ..... And all the post over the last 6 months how you kept picking up more and more as the price climbed. Why would you need more at $30.00 if you went all in years ago ...... ?
Cleared $500 today after gas ..... Tell your stupid relatives they need contacts before they get into trucking.
LOL im sorry ? you're bragging about clearing 500 and had to add gas into the equation?
Oh dear. That explains it.
Ya, what do you think the truck runs on .... Water ? $70 in diesel today @ $4.09 gets 5 mpg w/ 8 tons in the back.
so Goldman Suks and Yahoo performed worse than last year, yet ANALysts lowered expectations low enough to beat. just keep doing this every year as performance gets worse and worse!
CREE is getting destroyed in AH.
Big Blu DOWN AH.
Interesting Report Just Out
The Budget Crisis, Treasury Bonds and the US Dollar: Breakdown of the Global Economic, Financial and Monetary System
by Global Europe Anticipation Bulletin
Global Research, April 19, 2011 GEAB no. 54
after hours IBM: 162.84
And yet the Roach Motel [SPY], which caught a bid off of IBM and INTC, has continued on, oblivious, the kid in the hockey helmet standing in the center of the room clapping for himself.
The tape has been more than generously painted for the "surprising" reversal tomorrow.
LOL yeaaaaaaayyyyyyyyyyy!!!
YouTube - Hawaii yaaaaaayyyyyy
Now INTC is starting to fade away into the ether. It was up almost 7 at one point, and will be lucky to stay positive.
Seriously, no one who can bank profit - I'm talking even the brain dead - wants to hang out at the blackjack tables much longer.
Can't blame them - once the POMO money spigot dries up, look out below.
So IBM down a lot and a big weight on the dow yet futures soar???
Yep...and if you got a problem with that, talk with Duncan Niederauer. I'm sure he'll 'splain it all to you in a way that makes you understand that "price is truth"...ummmm....unless underlying derivative positions upset ratios represented by synthetic ETFs...which sell infinity shares on a finite underlying equity book...or something....
Never mind...shut up and buy E minis, you serf!
Put Neiderauer on it, he's a sneaky little shit.
Unfortunately, he is pretty busy right now selling the floor of the New York Stock Exchange to a bunch of Germans. Hmmmmm?
...harrumph...
"Put Neidermeyer on it. He's a sneaky little shit just like you."
IBM $162.07 at 19:02
Intel beat, shorts will get slaughtered tomorrow.
If Leo is saying Intel beat and will fly up, better get real short fast!
Generating revenue from LOTUS. LOL
Expressing system z sales and revenue growth in MIPS.
Going to have 2008 again. We're IBM we'll post record sales and revenue while laying off people.
Gee I sure hope people don't find the 03_Foundry_Service_Providers.doc and do a search for japan.
Hello IBM. I need a cloud computer and a system z with full cpu fill up. Can you throw in a copy of lotus notes with that?
No. I have to pay for it!! Can you clock those sytem z cpu's at 5.2 ghz?
That costs extra? Ok.