IBM's first quarter revenue of 18.155 billion US dollars net profit of 1.75 billion US dollars
IBM (NYSE: IBM) today announced its first quarter fiscal year 2017 financial statements as of March 31. According to the report, the company’s revenue for the quarter was US$18.155 billion, compared with US$18.684 billion in the same period of last year, down 3% year-on-year; according to the US GAAP, net profit was US$1.750 billion, compared with net profit of US$2.014 billion in the same period of last year , a year-on-year decrease of 13%; net profit from continuing operations was US$1.753 billion, compared with net profit of US$2.016 billion in the same period of last year, a year-on-year decrease of 13%; diluted and diluted earnings per share was US$1.85, compared with US$0.32 per share in the same period last year , a year-on-year increase of 477%.
Non-GAAP net profit from continuing operations was US$1.424 billion, compared to net profit of US$2.014 billion in the same period of last year, down 31% year-on-year; diluted EPS was US$0.21 last year. The profit for the same period was 2.38 US dollars, down 91% year-on-year.
Major Financial Data for the First Quarter of FY2017:
· GAAP gross margin was 42.8, compared with 46.5 in the same period of last year; Non-GAAP gross margin was 44.5, compared with 47.5 in the same period of last year.
· The GAAP effective tax rate was -23.1, compared with -95.1 in the same period of last year; Non-GAAP effective tax rate was -9.3, compared with -66.8 in the same period of last year.
• As of the end of the quarter, the company held cash and cash equivalents totalling 10.096 billion U.S. dollars; as of the end of last year, the figure was 7.826 billion U.S. dollars.
Revenue by department
· Cognitive Solutions revenue was US$4.062 billion, compared to US$3.979 billion in the same period of last year, which was a year-on-year increase of 2%.
· Global business services revenue was US$4.006 billion, compared to US$4.131 billion in the same period of last year, down 3% year-on-year.
·Technical services and cloud platform revenue was US$8.216 billion, compared with US$8.424 billion in the same period of last year, down 2% year-on-year.
• Revenue from the hardware systems segment was $1.395 billion, compared to $1.675 billion in the same period last year, which was a 17% year-on-year decline.
· Global financial services revenue was US$405 million, compared to US$410 million in the same period of last year, down 1% year-on-year.
· Revenue from other sectors was US$71 million, compared to US$66 million in the same period of last year, which was an increase of 8% year-on-year.
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