IBM Will Return to Growth This Year
The new z14 mainframe from International Business Machines (NYSE: IBM) very nearly ended the company's long streak of revenue declines. Sales slumped by just 0.4% year over year during the third quarter. That marks 22 consecutive quarters of declining revenue, but also IBM's biggest revenue beat in years.
The big news, though, is that IBM expects to produce revenue growth during the fourth quarter. CFO Martin Schroeter said during the conference call that he expects the mainframe cycle to drive a stronger fourth quarter this year. Based on the numbers he laid out, revenue could grow by as much as 1.3% year over year. That may not sound impressive, but it will be the first time in a long time that IBM has managed to move the top line in the right direction.
Image source: IBM.
Source: Fool.com
International Business Machines Corp Stock
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