IBM profit for the year fell by half

Прибыль IBM за год упала вдвое

By the end of 2017, the profit of IBM fell by more than two times, reaching 5.75 billion. The financial results of the company affected by the tax reform in the United States.

Net profit of American high-tech Corporation International Business Machines Corp. (IBM) at the end of last year decreased 2.1% in annual terms, reaching 5.75 billion. This was announced by the company, writes Prime.

As noted, earnings per share in the reporting period amounted to 6.14 12.38 dollar against the us dollar, the company informed. IBM revenue for the year was 79,139 billion, a decrease of 1%.

IBM net loss in the fourth quarter recorded at 1,054 billion dollars against a profit of 4,501 billion a year earlier. Loss per share amounted to 1.14 dollar profit 4.72 dollar over the same period in 2016. IBM’s revenue in the reporting period increased by 3.55% to 22,543 billion dollars. While revenue from cloud platforms and technical services decreased by 1.2 per cent to 9,198 billion dollars.

The financial results of the company affected by the adoption of tax reforms in the U.S. in December 2017, a lump-sum payment to IBM amounted to $ 5.5 billion, noted in the release.

“Over the past few years we have invested heavily in technology and our employees to change the positioning of IBM in the market”, – States the release quotes senior Vice President and chief financial officer of the company James Cavanaugh (James Kavanaugh). According to him, in 2018, IBM will strengthen its leading position in cloud technologies, security and blockchain technology.

IBM was founded in 1911. It is one of the world’s largest manufacturers and suppliers of hardware and software, as well as IT services and consulting services.

Recall, the American company, IBM has created a prototype processor 50 quantum bits