Categories AlphaGraphs, Earnings, Technology
Infographic: Highlights of IBM’s (IBM) Q3 2020 earnings report
Tech giant IBM Corp. (NYSE: IBM) on Monday said its third-quarter revenues and profit declined, hurt mainly by the disruption caused by the pandemic. The top-line, however, surpassed experts’ prediction, while earnings matched.
Weakness in the performance of the main business segments weighed on the company’s top-line performance and revenues dropped 3% to $17.56 billion, which was slightly above the consensus forecast.
Consequently, adjusted earnings declined to $2.58 per share in the September-quarter from $2.68 per share in the same period of fiscal 2019. Net profit was $1.70 billion or $1.89 per share, up from last year’s income of $1.67 billion or $1.87 per share. The outcome was in line with analysts’ forecast.
Read management/analysts’ comments on IBM’s Q3 2020 earnings
Though shares of IBM bounced back from the COVID-induced selloff, they are currently trading 7% below the levels seen at the beginning of the year. The stock closed Monday’s trading down 1% and continued to lose during the after-hours session.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
StubHub Holdings set to enter public markets. Here’s what to expect
After a modest start to the year, the IPO market is witnessing an increase in activity led by technology and healthcare companies. StubHub Holdings, a leading online ticket marketplace for
Can Beyond Meat (BYND) overcome its persistent challenges?
Shares of Beyond Meat, Inc. (NASDAQ: BYND) stayed red on Tuesday. The stock has dropped 19% over the past three months. The plant-based meat company continues to struggle in terms
CarMax (KMX) likely to report strong earnings growth for Q4 2025
After reporting robust earnings growth for the third quarter, CarMax, Inc. (NYSE: KMX) is preparing to publish Q4 results next week. Over the years, the company has fostered customer loyalty
