IBM Reports Earnings Today as Investors Digest Spinoff Plans
It didn't take long for International Business Machines (NYSE: IBM) CEO Arvind Krishna to shake up the century-old tech giant. Just six months after Krishna took the helm, IBM announced that it would spin off its gigantic managed infrastructure services provider business into a new company. The move will allow IBM to concentrate its efforts on hybrid cloud computing, artificial intelligence, and other growth areas.
IBM will report its third-quarter results after the market closes today. The numbers won't be a surprise -- along with announcing the spinoff, IBM provided preliminary third-quarter results. The company expects to produce revenue of $17.6 billion and adjusted earnings per share of $2.58. That revenue estimate is slightly ahead of analyst expectations, while the EPS estimate was in line.
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Source Fool.com
