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Here we go @IBM Q1 earnings: Beat on EPS Slight Miss on Revenue The Breakdown: Software +6% y/y @ cc Consulting +2% y/y @ cc Infrastructure +0.2% y/y @ cc Strengths: Hybrid Platform and Solutions: 7% y/y Red Hat: +9% y/y Automation: +13% y/y Gen AI (watsonx): Bookings… https://t.co/gVzwPmJkT8
Big Blue's on shopping spree - First Red Hat and Apptio, IBM's now snagged HashiCorp for a breezy $6.4B. All in the name of mastering your chaotic hybrid clouds, @Ron_Miller reports for @TechCrunch https://t.co/BhxdwRG3P8
Shares of #IBM fell after confirming that they would acquire #HashiCorp & their Q1 revenue missed expectations. Evercore ISI’s Amit Daryanani shared his take on the new deal. @jonfortt $IBM $HCP #Earnings https://t.co/kvkB5j46kt
IBM's Q1 earnings report reveals a 1% YoY revenue increase to $14.46B, with software revenue up 5.5% YoY to $5.9B and net income of $1.6B. Despite beating EPS estimates, revenue slightly missed expectations. IBM's acquisition of HashiCorp for $6.4B overshadowed the earnings, as shares dropped over 5%. Analysts had previously highlighted IBM's defensive appeal and strong AI influence, positioning the company well heading into the Q1 print. However, the consulting unit's weak demand disappointed investors. Keybanc initiated Super Micro with a Sector Weight rating, emphasizing its importance in the expanding AI server market.