Tuesday, April 19, 2016

IBM and PM earnings

So far this week IBM and PM reported earnings.

PM said it earned $0.98/share, plus an increase in guidance to $4.40-4.50. Here is what the CEO had to say.

“In line with our expectations, our first-quarter financial results reflected a tough comparison with the exceptionally strong first quarter of last year," said AndrĂ© Calantzopoulos, Chief Executive Officer.

"Today we raised our full-year guidance as a result of moderating currency headwinds, which continues to represent a currency-neutral adjusted diluted EPS growth rate of approximately 10% to 12% versus 2015. We expect the growth to be skewed towards the second half of this year, and the fourth quarter in particular."

“Our confidence is guided by moderating industry volume declines and robust pricing, underpinned by our superior cigarette brand portfolio, led by our flagship brand, Marlboro. We are also excited by the progress, best represented by our impressive HeatStick share momentum in Japan, of our Reduced-Risk Product, iQOS."

IBM also reported but got pummeled all day. The company earned $2.35(non-GAAP) and $2.09(GAAP). Here is what the CEO had to say. 

"We are pleased with the progress we have made helping our clients apply new cognitive solutions and hybrid cloud platforms," said Ginni Rometty, IBM chairman, president and chief executive officer. "IBM has established itself as the industry leader in total cloud, analytics and cognitive, all of which helped drive our strategic imperatives revenue growth at a strong double-digit rate, substantially faster than the market."

If you are unsure what cognitive solutions and hybrid cloud platforms are don't worry. Ginni is basically referring to Watson in that statement. Why she didn't just say that is beyond me, but hey its a free country. 

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