IBM (IBM) Stock Plunges 5% on Sales Miss, Q3 Results Seen as a Setback
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October 20, 2021 4:08 PM EDT
Revenue Performance Led by Consulting and Software; Solid Cash Generation
Highlights
Third Quarter:
Revenue of $17.6 billion, up 0.3 percent (down 0.2 percent adjusting for divested businesses and currency)
- Cloud & Cognitive Software up 3 percent (up 2 percent adjusting for currency)
- Global Business Services up 12 percent (up 11 percent adjusting for currency)
Revenue, up 2.5 percent (up 1.9 percent adjusting for divested businesses and currency), normalized to exclude Kyndryl to be separated in November
Net cash from operating activities of $16.1...
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October 19, 2021 11:00 AM EDT
ARMONK, N.Y., Oct. 19, 2021 /PRNewswire/ -- IBM (NYSE: IBM) today announced plans to acquire the Adobe Workfront consulting unit and assets from Rego Consulting Corporation to further its hybrid cloud and AI strategy.  Building on IBM's strategic partnership with Adobe, the consultancy specializes in work management software consulting for enterprise clients.
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