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IBM Profits Top Estimates, but Revenue Misses. It Sees Growth Returning in 2021. – Barron’s

IBM projects full-year 2021 adjusted cash flow between $11 billion and $12 billion, up from $10.8 billion in 2020, and between $12 billion and $13 billion in 2022….

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IBM
posted mixed results for the fourth quarter, with profits ahead of Street estimates but revenue coming in light amid continued pressures from a soft global economy.For the quarter, IBM (ticker: IBM) reported revenue of $20.4 billion, down 6% (or 8% adjusted for currency and divested businesses) and below the Wall Street analyst consensus forecast of $20.6 billion. Non-GAAP profits were $2.07 a share, nicely ahead of the Street consensus view at $1.79 a share. On a GAAP basis, the company earned…

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