IBM Third Quarter Earnings 2021
IBM reported a poorer-than-expected third-quarter earnings report for 2021. And its investors are not happy about it. Due to which its shares kind of took a steep dive of nearly 5% in a downward direction following its reporting.
Once the pioneer of the information technology era, IBM is currently only focusing on the under the hood IT infrastructure businesses across the globe. As of now, that too is not going as well as it should be.
Even though IBM is undoubtedly doing the most essential work that is needed to build and sustain this IT world that we live in. Its business is, to be honest, boring and lifeless as of today. And I think it should change for things to get better for the company.
Almost in all the sectors that IBM is working on, there are most interesting and lively competitors available in alternative to them. That’s the problem.
Now, let’s look at the not-so-impressive numbers of IBM below.
Earnings per share: IBM achieved earnings per share of $2.52 against the $2.50 expectation of investors. Beaten the expectation but not good enough.
Revenue: The company generated an accumulated quarterly revenue of $17.62 billion in comparison with the expected $17.77 billion. That explains the 5% decline in share price.
I think it's time for IBM to stop being so narrowly business-oriented and start focusing on being live and competitive even when it comes to the under the hood business sections of the IT world. Because its competitors are that way and that’s why they are eating IBM’s lunch left and right.
Hey IBM, Get better before it’s time over.
Thank you for reading this, and God Bless Everyone.
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Bio: Genius, Polymath, Entrepreneur, Philosopher.