IBM profit fell by 23%

Material author:

The American corporation IBM for the first quarter of this year received a profit of 23% less than last year. In total, the company received $733 million, in 2021 this figure was $955 million.

At the same time, total revenue increased from $13 billion to $12.4 billion. Compared to the same period in 2021, this figure increased by 8%.

In the software segment, the company increased its revenue by 12%. From the sale of software to International Business Machines Corp. Received $ 5.77 billion. Revenue from the consulting business grew by 13%, while the infrastructure segment showed a fall of 2%.

Despite the mixed results, the corporation has not changed its revenue forecast for this year. Without taking into account changes in exchange rates, IBM plans to receive 4-6% more profit than in 2021. The opinion of the company’s experts is supported by analysts from FactSet, who expect IBM to increase profits by 5.3%.

Experts believe that the company will remain at the lower limit of all earlier forecasts, as profits from the Russian market will stop. Russia generated $300 million in revenue for IBM last year.

Related posts

The Currency Accounting Center approved the regulation in case of sanctions for market participants


In the shopping center of Moscow, the share of vacant space reached a maximum in 12 years


H&M told how much it cost to close stores in Russia


The ruble rose against the euro to a historical maximum in 7 years

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published.