Thursday, 17 October 2013

Another Quarter, Another disappointment for IBM

Piss poor results.

BM beats by $0.03, misses on revenues • 4:06 PM
  • IBM (IBM
    ): Q3 EPS of $3.99 beats by $0.03.
  • Revenue of $23.7B (-4% Y/Y) misses by $1.07B. Shares -2.7% AH. (PR

Ridiculous. How long more? I thought they were doing decently till I was around. Which was around last Octish. Sam was around and things did work like clock work and we had outstanding stand out performance. 

What has really changed? The CE has changed for sure... but wasn't the plan for 2015 [Roadmap to 2015] already in place? 

An afterthought: Was I really the REASON [I am reminded of the vague GBS [IBM Service division] T-shirt that the people used to wear in IBM which said "I am the REASON" without mention what they were the reason for.

Mmh, I digress. Was I the reason? 4 Q's now and 4 Q's of progressively bad stuff. Will they recruit me again to see if I am the reason? 

Revenue miss is disappointing and I think IBM does need to stop the stupid focus on financial engineering and focus on revenue growth. It is steadily becoming a holding company for vastly disparate assets with poor innovation focus lately... Mmh, isn't that called an investment bank rather than a technology company if you becoming a holding company rather? 

More later.