The Clap
IBM has lowered their expected cash forecast for 2022.
The Deets
After lowering their expected cash forecast, the company’s shares went down by around 4% on Monday.
They still beat their top and bottom lines, recording $15.54 billion in revenue vs the expected $15.18. As for their EPS, they recorded $2.31 per share vs the expected $2.27 per share.
The revenue increase came from giving Kyndryl management of their infrastructure services. The revenue from software also went up by 6% and the revenue from the consulting division went up nearly 10%.
What made them cut their cash forecast?
The free cash flow forecast went down to $10 billion from $10-10.5 billion due to the strong dollar and the suspension of business in Russia.
Uh oh … IBM showed worrying signs 🤔
