The world's largest provider of computer services, International Business Machines, reported in the first quarter that it had reduced revenue by 5% in annual terms to $18 billion 180 million. US IBM revenue declines for the third quarter in a row. During the earnings period, its net profit also decreased by 5%, reaching $1 billion 590 million. Adjusted earnings in the amount of 2 dollars 25 cents per share slightly exceeded economists ’forecast of 2 dollars 22 cents per share. In the field of cloud and cognitive technologies, revenue was $5 billion, down 2%. The revenue of the Global Business Services division remained at the level of February, while the indicator of the Global Technology Services division fell by 7%. The drop in revenue was also recorded in the hardware and software segment. Here the figure has decreased by 11%. On Tuesday, IBM shares dropped 2.5% in price during additional trades.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...