Thndr Claps » U.S. Claps » Tech 📲 » Uh oh … IBM showed worrying signs 🤔
The ClapIBM has lowered their expected cash forecast for 2022.The DeetsAfter 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.
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