If history repeats, IBM (IBM) is scheduled to release an earnings beat and another YOY revenue decline tomorrow, after the closing bell.
Credit: Piximus
Revenue estimates of $18.6 billion, if they materialize, would represent IBM's 22nd consecutive quarter of YOY top-line decline, this time by -3%. On EPS, the Street is betting on $3.28, just about flat vs. year-ago levels.
Last quarter, management seemed optimistic about a paced slowdown in revenue deterioration, with GBS showcasing a pickup in new contracts signed and modest improvement likely to take place in tech services and cognitive solutions through the rest of the year. However, I expect the trend reversal to take quite some time to fully unfold.
