IBM Corp (IBM.US) Q3 revenue of $17.6 billion slightly exceeded market expectations

 Zhitong Finance APP learned that IBM Corp (IBM.US) announced its third quarter 2020 financial report after the US stock market closed on Monday. Health incidents have led companies to accelerate digital transformation and increase their demand for cloud computing services. The company's third-quarter revenue slightly exceeded market expectations.

IBM Corp's revenue for the third quarter of 2020 is $17.6 billion, and the market is expected to be $17.439 billion, compared with $18.028 billion in the same period last year. Among them, cloud and cognitive software business revenue is 5.55 billion U.S. dollars, the market is expected to be 5.41 billion U.S. dollars; global technical service revenue is 6.46 billion U.S. dollars, and the market is expected to be 6.33 billion U.S. dollars.

Net profit in the third quarter was US$1.698 billion, compared with US$1.672 billion in the same period last year; profit from continuing operations was US$1.698 billion, an increase of 2% from US$1.673 billion in the same period last year. Excluding items, the company’s earnings per share were US$2.58, and the market expected US$2.07, compared to US$1.89 in the same period last year. The adjusted expected profit rate is 49%, and the market expects it to be 48.6%.

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