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IBM’s New CEO Faces a Trial by Fire

TheMotleyFool

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IBM's (NYSE: IBM) stock recently dipped after the tech giant reported mixed first-quarter earnings. Its revenue fell 3% annually (roughly flat after excluding divested businesses and currency impacts) to $17.6 billion, missing estimates by $50 million.

Its non-GAAP earnings declined 18% to $1.84 per share, but still beat expectations by four cents. The company also pulled its full-year outlook, citing COVID-19 headwinds, and stated it would reassess its position "based on the clarity of the macroeconomic recovery at the end of the second quarter."

Image source: Getty Images.

Source Fool.com

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