IBM: Q2 EPS better than expected

(CercleFinance.com) - On Monday evening IBM reported Q2 2020 non-GAAP operating net income that is down 31% to 1.
9 billion dollars or 2.18 dollars per share, although this EPS still exceeded the consensus by seven cents.

The IT giant's revenues declined 5.4% to 18.1 billion dollars as reported, including a 1.9% contraction in organic terms, despite 34% organic growth in cloud revenues.

James Kavanaugh, IBM senior vice president and chief financial officer said, "We have the financial flexibility to continue to invest in our business and return value to our shareholders through our dividend policy."



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