Lots of "adjusted for currency", "adjusted for divested businesses", "normalized for historical comparability", "non-GAAP operating results" combined with a favorable year over year quarterly compare and growth numbers for made-up discretionary categories like "total cloud revenue".
But there's one number you can't monkey with, and that's Total Revenue. Here's the trend on that:
Revenue $B
2011 106.9
2012 104.5
2013 99.8
2014 92.8
2015 81.7
2016 79.9
2017 79.1
2018 79.6
2019 77.1
4 replies (most recent on top)
I just left IBM and out organization ' goal' was to get to 2-3% yr to yr growth- miles behind the market and supportive of your point- the so called growth is actually growth over previous year failure where they did not grow at all or far less than the overall market. IBM somehow obviously still has strong relationships with some media and analyst for the recently plethora of sugar coated commentary. Go compare IBM's cloud revenue with competitors, it's not even close, but to their credit, they have finally woken up in prioritizing cloud, albeit 10 years late!
If our record is poor they can hand out a PIP, but she gets a pass every time.
Yeah anyone can see straight through the marketing pitch. Revenue was down as was EPS. Just because they beat expectations by a razor thin margin ($100M is a rounding error for a F500 company), which already were rock bottom expectations to begin with, doesn’t show a story of growth. I can’t believe we’re celebrating that we did a better job of aligning numbers with expectations instead of taking action to stop the revenue slide.
Yeah, IBM is a master are hiding things.... It is always a bunch of lies with them!