Posted on Friday, Jan 28th 2022
The Big Blue (NYSE: IBM) recently reported stellar fourth-quarter results. IBM’s performance had been declining for a while. But it appears to have made a rebound with the company delivering three straight quarters of positive growth.
Revenues for the fourth quarter grew 8.6% to $16.7 billion, ahead of the Street’s estimates of $15.96 billion. Adjusted earnings of $3.35 a share were ahead of the $3.30 that the market predicted.
By segment, revenues from Cloud & Cognitive Software that includes Cloud & Data Platforms such as Red Hat, Cognitive Applications, and Transaction Processing Platforms grew 8% to $7.27 billion. Revenue from Global Business Services (GBS) including Consulting, Application Management, and Global Process Services grew 13% to $4.75 billion. Revenue from Global Technology Services (GTS) including Infrastructure & Cloud Services and Technology Support Services fell 15.7% to $4.7 billion.
IBM did not provide any outlook for the first quarter or the year.
IBM continued its acquisitions in the AI space and recently added two more companies to its mix. It recently announced the acquisition of SXiQ. Australia-based SXiQ works with Australia-based enterprises to migrate and modernize their cloud infrastructure. It helps these companies monitor and optimize their spending on cloud resources. The acquisition will allow IBM to advance its hybrid cloud and AI strategy by helping enterprises modernize and transform complex mission-critical applications on several clouds and platforms. It will enable IBM to enhance its consulting capabilities in Australia and New Zealand, especially with reference to services pertaining to infrastructure in the cloud. The terms of the deal were not disclosed.
Earlier this year, IBM announced the acquisition of another Australian firm Envizi. Envizi’s software provides companies with access to reliable data needed for analysis and understanding of emissions data across their operations. IBM plans to integrate Envizi’s AI-driven software with its existing package of products that includes the IBM Environmental Intelligence Suite, IBM Maximo asset management solutions, and IBM Sterling supply chain solutions. The move will help strengthen IBM’s portfolio of AI-based technologies needed by businesses to create sustainable operations and supply chains. Terms of the acquisition were not disclosed.
Meanwhile, IBM also continues to streamline its service offerings. Itrecently sold the healthcare data and analytics assets that are currently part of the Watson Health business to Francisco Partners. The sold assets include Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software offerings. In November 2021, IBM had also completed the spin-off of its managed infrastructure service business, Kyndryl. IBM’s portfolio reorganization will help it focus on hybrid cloud and AI offerings for its technology and consulting services.
IBM’s stock is currently trading at $132.52 with a market capitalization of $118.78 billion. It touched a 52-week high of $146.121 in June last year. In February last year, IBM touched a 52-week low of $112.93.
Disclosure: All investors should make their own assessments based on their own research, informed interpretations, and risk appetite. This article expresses my own opinions based on my own research of product-market fit, channel execution, and other factors. My primary interest is in product strategy. While this may have bearing on stock movements, my writings tend to focus on long-term implications. The information presented is illustrative and educational, but should not be regarded as a complete analysis nor recommendation to buy or sell the securities mentioned herein. I am not a registered investment adviser and I am not receiving compensation for this article. Photo Credit: Mikita Yo on Unsplash This segment is a part in the series : Cloud Stocks . Smartsheet Acquiring Bootstrapped Startups to Drive Growth . Bootstrapped Unicorn Atlassian is Acquiring Capital Efficient Startups . Netflix Price Hike Ruffles Competition . How Will Carbon Black Differentiate? . 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