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IBM Jan 2022 165.000 call

OPR - OPR Delayed price. Currency in USD
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2.0100-0.0200 (-0.99%)
As of 11:16AM EDT. Market open.
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Previous close2.0300
Expiry date2022-01-21
Day's range2.0100 - 2.0100
Contract rangeN/A
Open interest1.13k
  • IBM Reports First Quarterly Revenue Growth Since 2018

    IBM Reports First Quarterly Revenue Growth Since 2018

    (Bloomberg) -- International Business Machines Corp. posted its first revenue gain in eleven quarters, driven by demand for cloud services, suggesting Arvind Krishna’s turnaround plan is starting to bear fruit.Sales increased 1% to $17.7 billion in the three months ended Mar. 31, the Armonk, New York-based company said Monday in a statement. That beat the $17.3 billion analysts had forecast, on average, according to data compiled by Bloomberg. The shares jumped in extended trading.IBM reported first-quarter revenue growth in three of its five business segments, including Cloud and Cognitive Software, which saw 3.8% growth in sales from a year earlier. The Global Business Services and Systems units, which includes hardware and operating systems software, also posted year-over-year sales increases of 2.4% and 4.3%, respectively.April marks a full year at the helm for Krishna, who took over the role of chief executive officer from Ginni Rometty with plans to focus on artificial intelligence and the cloud to revive growth after years of stagnation. Krishna has reorganized the 109-year old tech giant around a hybrid-cloud strategy, which allows customers to store data in private servers and on multiple public clouds, including those of rivals Inc. and Microsoft Corp. Total cloud revenue increased 21% to $6.5 billion in the first quarter.Krishna attributed “increasing client adoption of our hybrid-cloud platform,” as well as growth in software and consulting, to helping the company “get off to a solid start for the year.”Last October, Krishna spun off IBM’s managed infrastructure services unit into a separate publicly traded company, which will be called Kyndryl and be based in New York. The division, currently part of IBM’s Global Technology Services division, handles day-to-day infrastructure service operations like managing client data centers and traditional information-technology support for installing, repairing and operating equipment. The unit has seen business shrink as customers embraced the shift to the cloud, and many clients delayed infrastructure upgrades during the pandemic. It was one of only two of IBM’s units to see revenue decline in the first quarter, with sales down 1.5%. The spinoff is scheduled to be completed by the end of this year.IBM also said revenue from Red Hat, which it bought in 2019 for $34 billion, gained 17% in the first quarter.Earnings excluding some costs were $1.77 a share, beating the average analyst estimate of $1.65. Gross margin was 47.3%, compared with the 47.2% analysts expected. IBM said it expects to report revenue growth for the full year.(Corrects to remove reference to Cloud and Cognitive Software being the biggest unit.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • IBM returns to sales growth after a year of declines on cloud strength

    IBM returns to sales growth after a year of declines on cloud strength

    (Reuters) -International Business Machines Corp returned to sales growth in the first quarter after a year of declines and beat Wall Street targets on Monday, boosted by its bets in the high-margin cloud computing business. Finance chief James Kavanaugh said cloud spending by clients in retail, manufacturing and travel industries in the United States was picking up after the initial pandemic-driven slump. Sales from its cloud computing services jumped 21% to $6.5 billion in the quarter.

  • IBM Reports 2021 First-Quarter Results
    Business Wire

    IBM Reports 2021 First-Quarter Results

    IBM (NYSE: IBM) today announced first-quarter 2021 earnings results.