IBM beats by $0.04, reports revs in-line; withdraws FY20 guidance due to COVID-19
Reports Q1 (Mar) earnings of $1.84 per share, $0.04 better than the S&P Capital IQ Consensus of $1.80.
Cloud & Cognitive Software up 5 percent (up 7 percent adjusting for currency)
Systems up 3 percent (up 4 percent adjusting for currency)
Global Business Services flat (up 1 percent adjusting for currency)
IBM is withdrawing its full-year 2020 guidance in light of the current COVID-19 crisis. The company will reassess this position based on the clarity of the macroeconomic recovery at the end of the second quarter.