IBM's revenue is expected to decline again, even after it began shipping a new mainframe computer.
Morgan Stanley cut its rating on IBM stock last week.
IBM President and CEO Virginia Rometty delivers a speech to participants during the 4th edition of the Viva Technology show at Parc des Expositions Porte de Versailles in Paris on May 16, 2019.will release its fourth-quarter earnings statement after market close on Tuesday.Excluding certain items, $4.69 per share as expected by analysts, according to Refinitiv.
In the fourth quarter IBM announced a "financial services-ready public cloud" offering that is expected to use the company's existing cloud infrastructure, and it appointed Thomas Buberl, CEO of insurance company AXA, to its board. Morgan Stanley analysts led by Katy Huberty cut their rating on IBM to equal-weight from overweight on Friday. "Even assuming modest Red Hat synergies, we now see long-term revenue growth at IBM as less likely without a more meaningful shift in the portfolio," the analysts wrote. "We see IT budget growth deteriorating in 2020 with risk of further cuts to core IBM profit pools including on-premise infrastructure, consulting, and outsourcing.
With respect to guidance, for 2020 analysts expect IBM to generate $13.29 in earnings per share, excluding certain items.This is breaking news. Please check back for updates.
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