IBM Corporation (IBM - Free Report) , a sort of forgotten entity in tech these days even though they are expected to bring in $80 billion in sales this year, beat estimates modestly on both top and bottom lines after the closing bell Wednesday. A five-cent beat to $3.08 per share on a round $20.00 billion in revenues which topped the $19.62 billion expected serve the headline, with a reaffirmation of full-year earnings guidance of $13.80 per share (4 cents lower than the current Zacks consensus).Cloud computing grew 23% year over year to $4.7 billion, while the Cognitive division brought in $4.6 billion. But with gross margins in the Big Tech space at sub-50% (46.5% in Q2) on year-over-year constant currency growth up just 2%, it's easy to see why Silicon Valley investors just don't get too excited over Big Blue anymore. For more on IBM's earnings, click here.
Zacks Rank #4 (Sell)-rated eBay (EBAY - Free Report) posted mixed Q2 results after the close, with a 2-cent beat on the bottom line to 53 cents per share. Revenues of $2.64 billion missed the Zacks consensus $2.67 billion, but were still up double-digits year over year. The earnings beat is the first time the company didn't come in exactly in-line with estimates over the past 5 quarters. But while full-year guidance remained steady, Q3 EPS and sales guided down slightly in the report. Shares are selling off more than 2% in late trading.
American Express (AXP - Free Report) also posted a mixed Q2 report this afternoon, beating estimates by a penny on the bottom line at $1.84 per share, while $10.00 billion in revenues was just shy of the $10.05 billion Zacks analysts had predicted. Higher loan volumes and a $3 billion share buyback program was not enough to salvage a late-trading selloff: shares are down 3% at this hour. For more on AXP's earnings, click here.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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IBM Corporation (IBM - Free Report) , a sort of forgotten entity in tech these days even though they are expected to bring in $80 billion in sales this year, beat estimates modestly on both top and bottom lines after the closing bell Wednesday. A five-cent beat to $3.08 per share on a round $20.00 billion in revenues which topped the $19.62 billion expected serve the headline, with a reaffirmation of full-year earnings guidance of $13.80 per share (4 cents lower than the current Zacks consensus).
Cloud computing grew 23% year over year to $4.7 billion, while the Cognitive division brought in $4.6 billion. But with gross margins in the Big Tech space at sub-50% (46.5% in Q2) on year-over-year constant currency growth up just 2%, it's easy to see why Silicon Valley investors just don't get too excited over Big Blue anymore. For more on IBM's earnings, click here.
Zacks Rank #4 (Sell)-rated eBay (EBAY - Free Report) posted mixed Q2 results after the close, with a 2-cent beat on the bottom line to 53 cents per share. Revenues of $2.64 billion missed the Zacks consensus $2.67 billion, but were still up double-digits year over year. The earnings beat is the first time the company didn't come in exactly in-line with estimates over the past 5 quarters. But while full-year guidance remained steady, Q3 EPS and sales guided down slightly in the report. Shares are selling off more than 2% in late trading.
American Express (AXP - Free Report) also posted a mixed Q2 report this afternoon, beating estimates by a penny on the bottom line at $1.84 per share, while $10.00 billion in revenues was just shy of the $10.05 billion Zacks analysts had predicted. Higher loan volumes and a $3 billion share buyback program was not enough to salvage a late-trading selloff: shares are down 3% at this hour. For more on AXP's earnings, click here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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