IBM: Initial notes from ongoing earnings conference call
IBM mgmt notes modest sequential improvement in growth markets.
Operating margin improved modestly while gross profit is flat; saw margin improvement in global financing, offset by declines in global business and systemes & tech.
Notes gross margin +50 bps, pre-tax margin +70 bps, net income margin +50 bps.
Continue to make investments in mobility, cloud.
Continue to expect to deliver at least $20.00 of Operating EPS in 2015.
IBM is trading -1.3% in after-hours at 189.97.