MSFT Feb 2020 145.000 call

OPR - OPR Delayed price. Currency in USD
21.48
0.00 (0.00%)
As of 12:29PM EST. Market open.
Stock chart is not supported by your current browser
Previous close22.20
Open21.99
Bid20.90
Ask21.50
Strike145.00
Expiry date2020-02-21
Day's range21.45 - 21.99
Contract rangeN/A
Volume6
Open interest1.88k
  • In latest JEDI contract drama, AWS files motion to stop work on project
    TechCrunch

    In latest JEDI contract drama, AWS files motion to stop work on project

    When the Department of Defense finally made a decision in October on the decade-long, $10 billion JEDI cloud contract, it seemed that Microsoft had won. The company announced on November 22nd that it had filed suit in the U.S. Court of Federal Claims protesting the DoD's decision to select Microsoft. Sources tell us that AWS decided not protest the start of initial JEDI activities at the time of the court filing in November as an accommodation made at DoD’s request.

  • Intel Gains as Data Center Revival Fuels Revenue Growth
    Bloomberg

    Intel Gains as Data Center Revival Fuels Revenue Growth

    (Bloomberg) -- Intel Corp. gave bullish quarterly and full-year revenue forecasts, driven by a surge in demand for chips that power large cloud-computing centers. The shares jumped as much as 7.8% in late trading.Sales in the current quarter and in 2020 will be well above what analysts had predicted and are outpacing normal industry trends, the chipmaker said on Thursday. Fourth-quarter revenue and profit also topped Wall Street’s highest estimates. As the biggest provider of server chips, Intel is benefiting from a rush to build capacity in data centers operated by companies such as Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc’s AWS.“We’re well ahead of our expectations in the quarter and it’s continuing into this year,” Chief Financial Officer George Davis said in an interview. “That’s just a great dynamic.”Revenue from cloud-service providers, which offer computing power and storage via the internet, surged 48% in the fourth quarter, fueling a gain in sales of the company’s most lucrative chips. A spike in demand from these buyers is helping to ease concerns that Intel was losing its technology leadership in computer processors and faced a competitive threat from customers’ own development efforts. Some high-end server chips cost more than compact car.Revenue in the current period will be about $19 billion, and profit will be $1.23 a share, excluding certain items, Intel said. That compares with average analysts’ projections for $17.2 billion and $1.04 a share. Sales in 2020 will be about $73.5 billion, the company said late Thursday in a statement. Analysts were looking for $72.2 billion on average, according to data compiled by Bloomberg.The company’s annual forecast implies growth will abate in the second half of the year, Davis said. Big purchases from data-center owners tend to come in lumps, followed by slower periods when the components are being built into computers.“The hard part is forecasting when they’re going to slow down and digest,” he said.Fourth-quarter sales rose 8% to $20.2 billion, the Santa Clara, California-based company said. Analysts on average had predicted $19.2 billion. Net income was $6.9 billion, or $1.58 a share, compared with estimates for $1.23 a share. Gross margin, or the percentage of sales remaining after deducting the cost of production, was 58.8% in the quarter.The largest U.S. chipmaker has fallen behind rivals in semiconductor-manufacturing technology, sparking concern on Wall Street about sales growth and future profit. In November, the company told PC customers inventory remained tight because of limited manufacturing capacity. Still, executives have said that Intel is targeting a broader range of markets and the company has plenty of room to expand in new areas, such as networking and the auto industry.Intel will increase spending on new plants and equipment to $17 billion in 2020 in part to boost production to a point where it’s not only able to fill all customer orders, but build inventory, Chief Executive Officer Bob Swan said on a conference call. After again failing to meet all demand in the fourth quarter, avoiding a repeat of that mistake is one of his biggest priorities, he said.The company’s struggles with its move to advanced 10-nanometer production are beginning to ease, Swan said. Intel plans to have server chips built with that technique available in the second half.Demand for personal computers held up well in the recent period, Davis said. Global PC shipments rose 2.3% from a year earlier in the December period as companies upgraded to a new version of Microsoft Corp.’s Windows operating system, according to research firm Gartner Inc. Intel expects the market this year for PCs to be flat from 2019 as that replacement cycle comes to an end.Intel has more than 80% market share in PC processors, and it controls even more of the server-chip market. In that business, semiconductor rival Advanced Micro Devices Inc. has fielded new products, and companies such as Amazon have said they’re designing some chips on their own -- leading some analysts to predict Intel would begin to lose business and struggle to grow this year. Intel executives said that part of the reason they’re predicting less growth for the second half is the expectation that competition will intensify.So far, there’s no sign of that hurting the company’s performance. In the fourth quarter, Intel’s data center unit reported a sales increase of 19% to $7.2 billion. PC-chip sales gained 2% to $10 billion. The company’s programmable-chip unit was the only division to post a decline. Sales at the Mobileye unit, which makes chips used to help vehicles pilot themselves, grew 31% to $240 million.(Updates with comment from CEO in 10th paragraph.)To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editor responsible for this story: Jillian Ward at jward56@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Best Thematic ETF for 2020: Cloud, Internet of Things & More
    Zacks

    Best Thematic ETF for 2020: Cloud, Internet of Things & More

    Find out more about cloud computing, Internet of Things, video games and infrastructure ETFs.

  • What Investors Can Expect from Microsoft's Q2 Earnings & Beyond
    Zacks

    What Investors Can Expect from Microsoft's Q2 Earnings & Beyond

    Microsoft shares have surged 55% in the last year. Here's what investors can expect from the tech giant's Q2 fiscal 2020 earnings results and beyond...

  • Tech Daily: AAPL Bug, AMZN JEDI Motion, Music Subs, UK Digital Tax, More
    Zacks

    Tech Daily: AAPL Bug, AMZN JEDI Motion, Music Subs, UK Digital Tax, More

    The top stories here are Apple's ITP vulnerability, Amazon's motion to stop work under the JEDI contract, Amazon's soaring music subs and the UK digital tax.

  • Earnings from Comcast, Airlines & More, Plus a Cheap Tech Stock to Buy - Free Lunch
    Zacks

    Earnings from Comcast, Airlines & More, Plus a Cheap Tech Stock to Buy - Free Lunch

    Quarterly earnings results from Comcast, Southwest, American Airlines, and more. And a look at why Pure Storage, Inc. (PSTG) is a Zacks Rank 1 (Strong Buy) stock right now, as it trades under $20 a share...

  • Intel Earnings, Revenue Beat in Q4 on Data-Center Business Strength
    Investing.com

    Intel Earnings, Revenue Beat in Q4 on Data-Center Business Strength

    Intel (NASDAQ:INTC) on Thursday reported a stronger-than-expected outlook on profit in the upcoming quarter after topping analysts' estimates on both the top and bottom lines, led by strong growth in its data-center business. For the first quarter, Intel said it expected to report earnings of $1.30 a share on revenue of $19 billion, above estimates for earnings of $1.03 a share and revenue of $17.2 billion. Intel had announced EPS of $1.42 on revenue of $19.19 billion in the previous quarter.

  • BBC partnered with Google and Facebook on general election fake news
    Yahoo Finance UK

    BBC partnered with Google and Facebook on general election fake news

    The initiative worked to de-emphasise news stories that were just 'plain wrong,' director-general Tony Hall said.

  • Zacks Market Edge Highlights: VEGN, Apple, Microsoft, Amazon and Berkshire Hathaway
    Zacks

    Zacks Market Edge Highlights: VEGN, Apple, Microsoft, Amazon and Berkshire Hathaway

    Zacks Market Edge Highlights: VEGN, Apple, Microsoft, Amazon and Berkshire Hathaway

  • Microsoft CEO: Data privacy must be thought of as a human right
    Yahoo Finance UK

    Microsoft CEO: Data privacy must be thought of as a human right

    Data privacy has to be protected and companies need to be 'transparent' about it, Satya Nadella said.

  • France pauses Big Tech digital tax to avoid US-Europe trade war
    Yahoo Finance UK

    France pauses Big Tech digital tax to avoid US-Europe trade war

    "We have found an agreement with US Treasury Secretary Steve Mnuchin and we are still in the process of defining the basis with the OECD."

  • Amazon asks court to pause Microsoft's work on Pentagon's JEDI contract
    Reuters

    Amazon asks court to pause Microsoft's work on Pentagon's JEDI contract

    Amazon, originally considered to be the favorite to win the award, had indicated last week that it would file a temporary restraining order to require the Pentagon and Microsoft to hold off beyond initial activities for the contract. Known as the Joint Enterprise Defense Infrastructure Cloud, or JEDI, the contract is intended to give the military better access to data and technology from remote locations.

  • Buy Apple Stock Before Q1 Earnings on Services, AirPods & iPhone Growth?
    Zacks

    Buy Apple Stock Before Q1 Earnings on Services, AirPods & iPhone Growth?

    Apple stock has skyrocketed nearly 110% in the last year. Now the question is should investors think about buying the iPhone giant's stock before Apple reports its Q1 2020 earnings results on Tuesday, January 28?

  • Microsoft (MSFT) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Microsoft (MSFT) Stock Sinks As Market Gains: What You Should Know

    Microsoft (MSFT) closed at $165.70 in the latest trading session, marking a -0.48% move from the prior day.

  • 3 High-Yield Tech Stocks for Dividend Investors to Buy Right Now
    Zacks

    3 High-Yield Tech Stocks for Dividend Investors to Buy Right Now

    Check out these three high-yield tech stocks we found using our Zacks Stock Screener that dividend investors might want to buy right now...

  • Facebook Opens Wallet, Leading Peers in Newly Hostile Washington
    Bloomberg

    Facebook Opens Wallet, Leading Peers in Newly Hostile Washington

    (Bloomberg) -- Four of the five biggest U.S. technology giants boosted their lobbying spending last year as they battled charges of unfair competition, sought to shape privacy legislation and pursued large government contracts in an increasingly hostile Washington.Facebook Inc. led spending increases by Amazon.com Inc., Apple Inc., and Microsoft Corp. Search giant parent Alphabet Inc. was the lone member of the quintet with a decline.Alphabet’s Google reported a 44% decline in 2019 spending, to $11.8 million from $21.2 million. The company spent much of last year reshuffling its Washington office, including ending its relationships with more than a dozen lobbyists at six outside firms. It also replaced Susan Molinari, a former Republican House member, with Mark Isakowitz, a onetime GOP Senate aide, to head up its Washington policy shop.The tech industry has become one of the biggest spenders in Washington and is rivaling traditional lobbying powerhouses, including the pharmaceutical industry and big business lobbies.Together, the five biggest tech companies by market value shelled out $62.2 million in 2019, 3% less than what they spent the year before. That topped the biggest spender among the business groups, the U.S. Chamber of Commerce, which spent $58.2 million to lobby in 2019.It was also more than double the $28.9 million spent by the pharmaceutical industry’s lead trade group, Pharmaceutical Research and Manufacturers of America, which typically conducts the lion’s share of the industry’s lobbying.On a company level, the five largest U.S. drug makers -- Johnson & Johnson, Merck & Co., Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly & Co. -- spent $34.7 million in lobbying last year, 44% less than the five biggest tech companies.While the amounts spent on lobbying by the tech giants pale in comparison with the billions in revenue each company receives and, in some cases now, their trillion-dollar market values -- money can buy influence in the nation’s capital.The disclosures, which are filed quarterly with Congress, include amounts spent to weigh in on legislation or other pressing matters before Congress, the White House and Executive Branch agencies. The reports were due Tuesday.Existential ThreatsWith their broad portfolios, U.S. tech companies have been worried about everything from Trump’s trade deals to stalled privacy legislation and drone regulations. But perhaps their most existential threats are the antitrust probes.The Justice Department and the Federal Trade Commission are reviewing the biggest internet platforms to determine if they are harming competition. The FTC is scrutinizing Facebook and Amazon, while the Justice Department is investigating Google and is also looking at Facebook.Large coalitions of state attorneys general are likewise considering cases against Facebook and Google.For more: Justice Department Questions Publishers in Ongoing Google ProbeIn addition, the House Judiciary Committee’s antitrust panel, led by Rhode Island Democrat David Cicilline, has a sprawling inquiry underway. Cicilline has hauled executives before his subcommittee and peppered the companies with exhaustive questions about their business practices.Facebook surged to the front of the pack among the tech behemoths. The social-media company spent $16.7 million last year, its highest-ever yearly spending and up 32% from $12.6 million in 2018. It lobbied on such issues as intellectual property, cybersecurity, privacy, cryptocurrency and election integrity, according to the annual lobbying disclosures.E-commerce giant Amazon was close behind Facebook, upping its spending to a record $16.1 million from $14.2 million. Despite the increase, its public policy shop has experienced a number of high-profile failures. In October, for example, Amazon learned that it lost a $10 billion Pentagon cloud contract to rival Microsoft.Amazon has blamed that loss on presidential meddling. Numerous parts of the “evaluation process contained clear deficiencies, errors, and unmistakable bias -- and it’s important that these matters be examined and rectified,” the company said in November.It doesn’t help that Amazon founder Jeff Bezos and President Donald Trump have been feuding since before Trump was elected and that Bezos owns the Washington Post, which Trump sees as one of his fiercest critics.Apple RecordApple’s $7.4 million lobbying outlay last year was also a record. That amount was up 10% from $6.7 million in 2018. Chief Executive Officer Tim Cook has had a better working relationship with Trump than have many of his tech rivals. He was among several dozen global tech leaders who attended a breakfast with the president at the World Economic Forum conference in Davos, Switzerland, on Wednesday.But Cook is also in the hot seat for his company’s refusal to help the FBI unlock an encrypted iPhone used by the Saudi air force student who allegedly killed three people at a Florida naval base.Microsoft, which spent $10.2 million on lobbying last year, up from $9.5 million the year before, has largely avoided the political pitfalls of its peers. Winning the Pentagon’s lucrative cloud contract was a major victory, considering its underdog status. In August, Pentagon vendors also were awarded a contract worth as much as $7.6 billion to provide Microsoft software to the Defense Department.Privacy PushSome of the big checks Facebook, Google and others are writing in Washington are going to lobbying firms and trade groups pushing industry-friendly privacy bills. The industry hoped to see federal privacy legislation adopted last year, but that didn’t happen.California’s new privacy law went into effect Jan. 1, becoming the most influential U.S. privacy statute. New York, Washington State and others are considering their own privacy bills, which could create a patchwork of state privacy regulations, making compliance difficult for global tech giants.The tech companies, hoping to avoid that, are again lobbying Congress to adopt a federal privacy law before the 2020 elections.Chinese telecommunications company Huawei Technologies Co., after minimal outlays, started spending heavily on lobbying in the second half of last year as it found itself in the crosshairs of the Trump administration. In May, the Commerce Department placed the company on a blacklist designed to cut it off from U.S. suppliers.Huawei spent $1.1 million in the fourth quarter and nearly $3 million for the full year, up from $165,000 in 2018. The increase was primarily to pay lobbyist Michael Esposito, who touts his connections to Trump, though the president has said he doesn’t know him.Trade WarsIn the final months of 2019, companies and trade groups intensified their lobbying on international trade issues as the Trump administration sought to end the tariff war with China and pass a new trade deal with Mexico and Canada.Earlier this year, the U.S. and China signed what they billed as the first phase of a broader trade pact that commits China to do more to crack down on the theft of American technology and avoid currency manipulation. The Senate passed Trump’s U.S.-Mexico-Canada free trade agreement or USMCA, which replaced the North America Free Trade Agreement, following House passage late last year.The National Association of Manufacturers’ spending on federal lobbying rose to $8.4 million in the last three months of 2019, a nearly 313% jump compared with the third quarter, and $14.6 million in all of 2019. The trade group lobbied on both China and North American trade issues, according to its filings.\--With assistance from Naomi Nix.To contact the reporters on this story: Eric Newcomer in San Francisco at enewcomer@bloomberg.net;Ben Brody in Washington, D.C. at btenerellabr@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, ;Molly Schuetz at mschuetz9@bloomberg.net, Paula DwyerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Microsoft (MSFT) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
    Zacks

    Microsoft (MSFT) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

    Microsoft (MSFT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Warning: Do You Know What's in Your ESG ETF?
    Zacks

    Warning: Do You Know What's in Your ESG ETF?

    Many investors buy ETFs in order to get a niche investing strategy, but it may not be what it seems.

  • Bloomberg

    Intel and Softbank Beware. Open Source Is Coming to the Chip Business

    (Bloomberg) -- After revolutionizing software, the open-source movement is threatening to do same to the chip industry.Big technology companies have begun dabbling with RISC-V, which replaces proprietary know-how in a key part of the chip design process with a free standard that anyone can use. While it’s early days, this could create a new crop of processors that compete with Intel Corp. products and whittle away at the licensing business of Arm Holdings Plc.In December, about 2,000 people packed into a Silicon Valley conference to learn about RISC-V, a new set of instructions that control how software communicates with semiconductors. In just a few years, RISC-V has grown from a college teaching tool into an open-source standard being explored by industry giants including Google, Samsung Electronics Co., Alibaba Group Holding Ltd., Qualcomm Inc. and Nvidia Corp.“Most of the major companies are putting substantial efforts into RISC-V,” said Krste Asanovic, a computer scientist at the University of California, Berkeley, who was part of the team that developed the standard. He’s co-founder of SiFive Inc., a startup that sells chip designs based on RISC-V (pronounced “risk five”).Open source harnesses the contributions of multitudes, not just the proprietary ideas of a few companies. New code is shared, so anyone can see it, improve it and build their own contributions on top of it. After being dismissed by giants like Microsoft Corp. in the 1990s, this expanding body of work has become the foundation of the internet, smartphones and many software applications. Last year, IBM bought open-source pioneer Red Hat in the biggest software deal in history. Even Microsoft got on board, acquiring GitHub, the largest repository of open-source code.Opening up even small parts of the chipmaking process is anathema to many in the $400 billion industry. But if enough companies commit to an open-source approach, that could create a shared pool of knowledge that may be hard for Intel and Arm to keep up with.Early developments focus on instruction sets, which govern the basic functions of processors. Only two have mattered for years. One is Intel‘s X86, which dominates computer processors. Buying a chip from Intel or licensee Advanced Micro Devices Inc. is the only real way to use this instruction set. And Intel is the only company that can change it.The other instruction set is the basis of all major smartphone components. It is owned by Arm, a unit of Softbank Group Corp. This can be licensed for a fee, so other companies use it to design their own chips. But again, only Arm can alter the fundamentals.This has left the rest of the industry relying on the innovation of just two companies. That was not a problem for decades because most processors were general-purpose components that got faster and more efficient each year through production advances. Those industry axioms are unraveling, though. The steady march of chip miniaturization has bumped up against the laws of physics, while artificial intelligence and a flood of data from the internet and smartphones require new ways of processing information. A fresh set of instructions will help create better chips to power driverless cars, speech recognition and other AI tasks, RISC-V’s backers say.Google is using RISC-V in its OpenTitan project, which is developing security chips for data center servers and storage devices. “There are a range of other computational tasks, such as machine learning, that could benefit from an open computing architecture,” said Urs Holzle, who has overseen the technical infrastructure of Google’s massive data centers for years.Samsung said it will use SiFive designs in chips it’s making for mobile phone components. RISC-V has appeared in microcontrollers – a basic form of a processor – that are part of more complex chips sold by Qualcomm and Nvidia. Western Digital Corp., one of the largest makers of data-storage devices, plans to use the technology in some products and has open-sourced its designs. Alibaba has announced a chip based on RISC-V and several universities have published open-source designs.There are 200 Chinese members of the RISC-V Foundation, a non-profit group created in 2015 to promote the use of the instruction set. An Indian project developed six processors using the technology.RISC-V specifications are developed, ratified and maintained by the foundation’s technical committee, made up of engineers and other contributors from several member companies. Proposed revisions are posted on GitHub. RISC-V designs can either be free or licensed. While there’s no strict requirement to stick to the official specifications, members have an incentive to make their designs compatible. This gives chip customers multiple options for the blueprints they need to design components that communicate properly with the software, according to backers of the project.It’s still very early days, though. In terms of actual chips created, sold and used, RISC-V is nowhere. Arm’s technology is in almost all the 1.4 billion smartphones made each year. More than 200 million PCs sold annually are based on Intel’s X86 instruction set.One criticism of RISC-V is that it won’t end up saving money because there’s more work involved in using open standards. This echoes complaints raised about Linux and other open-source software when they were gaining ground decades ago.Arm said the idea that RISC-V reduces costs doesn’t make sense. “Innovation goes far beyond an instruction set,” said Tim Whitfield, a vice president of strategy at the company. “Arm’s IP is highly configurable and provides our partners with the flexibility to innovate and differentiate where they can add real value while minimizing risk and cost.”Martin Fink, Western Digital’s former chief technology officer who still advises the CEO, said it’s about spurring innovation in a crucial field that’s still locked down, rather than saving money. “It’s free as in freedom not as in free beer,” he added. “It’s about community and collaboration.”Other RISC-V backers argue that the more-collaborative process will eventually reduce the cost of creating chips, especially for data center operators and other companies that are increasingly designing their own processors, according to David Patterson, a former Berkeley professor and a distinguished engineer at Google. “Companies all over the world are collaborating to develop because it saves them money,” he said.Pressure on the incumbents to step up their game might be the biggest immediate impact of RISC-V. Last year, Arm announced a try-before-you-buy plan with a much lower fee so smaller companies and academic institutions could do exploratory work using its instruction set.Intel said it is adding new instructions that will help with AI processing and other new areas. “Intel engineers have continually advanced the X86 architecture standard, providing best-in-class performance,” the company added in a statement. Qualcomm, one of Arm’s biggest customers, sees room for multiple approaches, including RISC-V, according to Keith Kressin, a senior vice president of product management at Qualcomm.To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Alistair Barr, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Google's Airtel Deal to Bolster Its Cloud Presence in India
    Zacks

    Google's Airtel Deal to Bolster Its Cloud Presence in India

    Alphabet's (GOOGL) Google inks deal with Airtel per which the latter gets authority to offer G Suite to small and medium businesses.

  • US threatens tit-for-tat levy if UK pursues 'Big Tech' tax
    Yahoo Finance UK

    US threatens tit-for-tat levy if UK pursues 'Big Tech' tax

    'If people want to just arbitrarily put taxes on our digital companies, we’ll consider arbitrarily putting taxes on car companies,' the US Treasury Secretary said.

  • IBM Beats Estimates, Ekes Out Revenue Growth on Cloud
    Bloomberg

    IBM Beats Estimates, Ekes Out Revenue Growth on Cloud

    (Bloomberg) -- International Business Machines Corp. reported revenue in the fourth quarter that beat analysts’ estimates, breaking a streak of five consecutive declines as its push into the hybrid cloud market slowly starts to bear fruit. The shares jumped in extended trading.Sales were $21.8 billion in the quarter, up almost 0.1% from the same period a year earlier, the Armonk, New York-based company said in a statement Tuesday. Wall Street had forecast $21.6 billion.The increase stemmed from IBM’s acquisition of Red Hat, which it completed in the third quarter last year, helping boost the cloud and cognitive software division 8.7% from a year earlier. Total cloud revenue was $6.8 billion, the highest ever.Chief Executive Officer Ginni Rometty is hanging the company’s future on the market for hybrid cloud, which allows companies to store data in cloud servers on private and multiple public clouds run by its rivals Amazon Web Services and Microsoft Corp.’s Azure. IBM spent $34 billion in 2018 to acquire Red Hat to help kick this strategy into gear. The company plans to use Red Hat to offer enhanced security services and applications in the hybrid cloud.Red Hat contributed $1 billion in revenue in the quarter ended Dec. 31, but IBM was only allowed to recognize $573 million of that due to U.S. accounting standards. IBM reported earnings excluding some costs of $4.71 a share, beating the average analyst estimate of $4.69. The company said it expects adjusted earnings per share of at least $13.35 for 2020, ahead of Wall Street’s projections for $13.29.Global Technology Services, which represents about 30% of IBM’s overall revenue, continued to decline. The technology consulting unit had revenue of $6.9 billion, which is down 4.8% from the same period last year. Global Business Services also declined, to $4.2 billion -- a 0.6% drop from a year earlier.Once the world leader in technology, IBM has lagged behind rivals for years after largely missing the cloud revolution. “The company has been struggling in a raging bull market for tech stocks,” said Ivan Feinseth, a director of research and analyst at Tigress Financial. “All types of tech companies have been growing expect for IBM.”IBM has long struggled with revenue growth, a factor that has weighed on shares. The stock rose about 4% in extended trading following the report.To contact the reporter on this story: Olivia Carville in New York at ocarville1@bloomberg.netTo contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tech Daily: Facebook, Apple, Digital Taxes & More
    Zacks

    Tech Daily: Facebook, Apple, Digital Taxes & More

    Facebook's role in elections and its UK expansion, Apple's Cook in Ireland, Alibaba's certification and the EU ban on facial recognition technology are the top stories.

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