IBM Reports 2020 First-Quarter Results
International Business Machines Corporation (IBM)
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Source: Business Wire
Continued Cloud Revenue Growth; Gross Margin Expansion; Strong Balance Sheet and Liquidity Position ARMONK, N.Y.--(BUSINESS WIRE)--IBM (NYSE:IBM) today announced first-quarter 2020 earnings results.“IBM remains focused on helping our clients adapt to the immediate challenges of the COVID-19 pandemic, while we continue to enable them to shift their mission-critical workloads to hybrid cloud and expand their use of AI to help transform their operations," said Arvind Krishna, IBM chief executive officer. "Our first-quarter performance in cloud is a reflection of the trust clients place in IBM's technology and expertise today, and positions us to continue building an enduring hybrid cloud platform for the future.” Highlights for the first quarter include:GAAP EPS from continuing operations of $1.31Operating (non-GAAP) EPS of $1.84Revenue of $17.6 billion, down 3.4 percent (up 0.1 percent adjusting for divested businesses and currency)-- Cloud & Cognitive Software up 5 percent (up 7 per
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