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International Business Machines Corp
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International Business Machines Full Year 2022 Earnings: EPS Beats Expectations
Simply Wall St
January 27, 2023, 5:58 am
International Business Machines (NYSE:IBM) Full Year 2022 Results
Key Financial Results
Revenue: US$60.5b (up 5.5% from FY 2021).
Net income: US$1.78b (down 62% from FY 2021).
Profit margin: 2.9% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses.
EPS: US$1.97 (down from US$5.26 in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
International Business Machines EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 45%.
Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are down 4.8% from a week ago.
You should always think about risks. Case in point, we've spotted 4 warning signs for International Business Machines you should be aware of, and 1 of them is a bit concerning.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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IBM CEO Talks AI ...
Advanced AI systems more likely to replace white collar clerical work, says IBM’s Arvind Krishna
JAN 20, 2023 / 08:54 AM IST
The IBM CEO quipped that AI systems are not likely to replace roles like farmers and truck drivers in the near term.
Arvind Krishna, CEO of International Business Machines Corporation (IBM) | (Reuters file image)
Work that is repetitive in nature and can be automated will start to be done by AI systems, according to IBM Chief Executive Officer Arvind Krishna. Speaking to Moneycontrol at the World Economic Forum in Davos, the IBM CEO said that such work that can be done by AI systems is not a threat, and that he believes that AI systems are more likely to replace white collar clerical workers.
“I think these advanced AI systems will more likely replace white collar clerical workers, than the physical world where people tend to go. It's not going to replace farmers and truck drivers in the near term. Those are much further out, if at all," he quipped.
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IBM (IBM) in January sold off Watson Health to private equity firm Francisco Partners. The deal reportedly came in above $1 billion. But IBM had invested much more in artificial intelligence software and acquisitions.
For years, IBM has been developing ways to adapt its AI supercomputer Watson to revolutionize health care, finance, law and academia. Unfortunately, genomics and oncology programs powered by Watson didn't live up to expectations. Still, Watson recently performed as well as or even better than AI services from Amazon, Microsoft and Google in tests by the Allen Institute for Artificial Intelligence. Analyst Wamsi Mohan says IBM's cloud services and AI initiatives will expand the company's market share of total information technology spending in the long term. Bank of America has a "buy" rating and a $162 price target for IBM stock, which closed at $135.34 on Jan. 6.
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