Wednesday, July 22, 2020

Mainframe Earnings Up Big for IBM

This week IBM announced earnings results for 2020Q2 and the company reported Systems revenues of $1.9 billion, up 6 percent, led by IBM Z, which was up 69 percent… the mainframe is a shining jewel in IBM’s earnings.

Note that the Systems category comprises IBM systems hardware and operating system software, including mainframe, Power systems, storage, etc.

Other bright spots for IBM include total cloud revenue of $6.3 billion, up 30 percent and Red Hat revenue up 17 percent.

After reporting the earnings, IBM shares rose by as much as 6 percent in extended trading on Monday due to the overall better-than-expected results.

Overall, earnings were $2.18 per share, adjusted, vs. $2.07 per share as expected by analysts.

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