IBM Hangs Tough (Update)
SAN FRANCISCO -- IBM(IBM Quote) expects to meet full-year earnings estimates, the company emphasized during its third-quarter earnings call late Thursday.
The company's confidence that it can deliver earnings of "at least" $8.75 a share implies fourth-quarter earnings of $3.07. Analysts were expecting fourth-quarter EPS of $3.06 on revenue of $25.9 billion, according to Thomson Reuters.
IBM financial chief Loughridge sought to dispel fears on the cal that the company would lose revenue from troubled banking clients, face a credit crunch, or suffer a serious downturn due to an economic contraction.
Although financial institutions account for 28% of IBM's revenue, only 1% comes from the 21 financial institutions worldwide that have been identified as troubled, according to Loughridge. ...
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