IBM Had A Strong Q3, But Some Analysts Have Lowered Estimates On The Stock - Here's Why
Portfolio Pulse from Nabaparna Bhattacharya
IBM had a strong Q3 with revenue of $14.752 billion, slightly above estimates. BMO Capital Markets and RBC Capital Markets analysts have reiterated their ratings but lowered their FY23 revenue and EPS estimates for IBM. The company's strategy of investing in growth areas and its FCF were highlighted positively. However, deceleration in Red Hat and margin challenges were noted as concerns. IBM shares are trading higher by 5.00% to $143.93.
October 26, 2023 | 6:48 pm
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IBM's Q3 revenue beat estimates, but analysts have lowered their FY23 forecasts due to concerns over Red Hat and margins. Despite this, IBM shares are trading higher.
IBM's Q3 revenue beat estimates, which is a positive sign. However, analysts have lowered their FY23 forecasts due to concerns over Red Hat and margins. This could potentially impact the company's future performance. Despite these concerns, IBM shares are trading higher, indicating that the market may have a different view or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100