IBM (NYSE:IBM) -1% returns to its pattern of revenue misses in the March 31-ending period and beats on EPS. The company pulls its full-year outlook, citing the coronavirus pandemic.
Revenue breakdown: Global Technology Services, $6.5B (consensus: $6.52B); Cloud and Cognitive Software, $5.2B (consensus: $5.33B); Global Business Services, $4.1B (consensus: $3.93B); Systems, $1.4B (consensus: $1.41B).
Gross margin was % compared to the 45.9% estimate.
Total cloud revenue was up 23% (constant currency) to $5.4B.
