Another Revenue Decline Expected for IBM
International Business Machines (NYSE: IBM) will have another chance to change the narrative when it reports its third-quarter results after market closes on Tuesday, Oct. 17. The century-old technology giant has reported 21 consecutive quarters of decreasing revenue. Growth businesses like cloud computing are putting up impressive numbers, but legacy businesses continue to contract.
One major tailwind for IBM in the third quarter was the launch of its latest mainframe, the z14. Each mainframe refresh triggers upgrades from IBM's install base, providing a temporary boost to the top line. That may be enough to put an end to IBM's long slide in revenue, although analysts are expecting another decline.
The z14 mainframe. Image source: IBM.
Source: Fool.com
International Business Machines Corp Stock
We see a rather positive sentiment for International Business Machines Corp with 16 Buy predictions and 1 Sell predictions.
With a target price of 183 € there is a slightly positive potential of 3.57% for International Business Machines Corp compared to the current price of 176.7 €.
