IBM’s new CEO bullish about growth prospects as it posts Q1 results>
CRN – Josh Budd
Big Blue scraps financial targets for 2020 amid coronavirus uncertainty, while analysts probe newly appointed CEO Arvind Krishna on bringing firm back to growth

IBM’s new management team will propel the tech titan back to growth, claimed newly-minted CEO Arvind Krishna, as the tech giant posted declining revenues for its Q1. Revenues for the three-month period declined by 3.8 per cent to $17.6bn, while its GAAP earnings per share fell by 26 per cent to $1.31.

Former Red Hat boss Jim Whitehurst was made President after Ginni’s departure. Then this month, IBM’s Bridget van Kralingen was promoted to SVP of global markets and Bank of America’s CTO, Howard Boville, was drafted in to become head of its Cloud Platform business. In 2019, it also appointed Mark Foster to lead its services business. Krishna told investors he is confident that IBM’s new leadership team will deliver growth for the IT giant that has historically suffered from consecutive quarters of revenue declines. IBM was expecting to post GAAP EPS of at least $10.57 and a non-GAAP EPS of at least $13.35. Along with other vendors such as Dell, VMware and HPE, IBM has also withdrawn its financial guidance for this year. Krishna echoed his remarks from when he was first appointed CEO earlier this month, in claiming that AI and cloud will be the key growth drivers for IBM.
Link: https://www.channelweb.co.uk/news/4014237/ibm-ceo-bullish-about-growth-prospects-posts-q1-results?utm_medium=email&utm_content=&utm_campaign=CRN.SP_01.Daily_RL.EU.A.U&utm_source=CRN.DCM.Editors_Update