• Home
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
  • Events
  • Whitepapers
  • Newsletters
  • Sign in
  • Events
    • Follow V3 Events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • V3resources 120x194
      Network Security Forensics For GDPR Compliance

      An effective network security forensics strategy can assist an organization in providing key compliance-related details as part of any post-incident GDPR investigation.

      Download
      V3resources 120x194
      10 ways to increase productivity with managed Office 365

      For businesses large and small, relying on a cloud-based collaboration and productivity suite such as Microsoft Office 365 is becoming the norm. Enhancing productivity in your organisation is vital to get ahead in 2017 - and using Office 365 can help, if it's used right...

      Download
      Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Data Strategy Spotlight
  • Sign in
  •  
    •  

      You are currently accessing V3 .co.uk via your Enterprise account.

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • Newsletters
    • Facebook
    • YouTube
  • Register
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
 
  •  

    You are currently accessing V3 .co.uk via your Enterprise account.

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
V3.co.uk
  • Management

Dark skies will remain, says IBM

Big Blue sees black days ahead for the IT industry.

  • John Geralds in Silicon Valley
  • 19 July 2001
  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
0 Comments

IBM dashed any hopes that the hi-tech downturn was ending by saying that it expects business in the next few months to deteriorate.

The company said its second half was at risk of giving way to some broader economic factors, and that its chip making business would fall off dramatically making it more difficult to offset the effects the strong dollar will have on profits.

Chairman and chief executive Louis Gerstner said that slow spots in the second quarter included PCs, hard disk drives and microelectronics, and that the three would continue to hurt the company in the coming months.

"We were not immune from some of the problems that affected many of our competitors in the second quarter," said Gerstner. "We expect that these factors will continue to work against us in the second half of the year. Additionally, we are now seeing signs of slowing in our microelectronics business."

Chief financial officer John Joyce said that PC sales were particularly weak. Revenues were down 14 per cent at constant currency and hard disk drives were down two per cent. "We have work to do in PCs and hard disk drives," he said.

During a conference call, Joyce reiterated that the company's microelectronics business is troubled by some $250m worth of excess inventory with buyers. He explained that this could result in a 15 to 20 per cent falloff in that portion of the business during the third quarter.

"Currency would hurt third-quarter growth by about five points - a point more than April rates would have suggested," he said. "In the fourth quarter, we could be hurt by three to four points, which is also a point more."

"We expect to be one of the very, very few IT companies to grow revenue and earnings per share in 2001," he added.

IBM managed to meet analysts' profit estimates of $1.15 earnings per share for the quarter. Total revenue was $21.6bn, which marked a slight decline from the year-ago quarter when the company reported sales of $21.7bn.

Big Blue reported $2bn in net income for the second quarter, a five per cent increase from $1.9bn in the same period a year earlier.

  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
  • Topics
  • Management

V3 Latest

First plant to grow on the Moon, err, dies
First plant to grow on the Moon, err, dies

Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night

  • Communications
  • 18 January 2019
Fortnite news and updates: Fortnite made $2.4bn in 2018, according to SuperData
Fortnite news and updates: Fortnite made $2.4bn in 2018, according to SuperData

Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018

  • Software
  • 18 January 2019
Japanese firm sends micro-satellites into space to deliver artificial meteor showers on demand
Japanese firm sends micro-satellites into space to deliver artificial meteor showers on demand

Meteor showers as a service will be visible for about 100 kilometres in all directions

  • Communications
  • 18 January 2019
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data

New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago

  • Communications
  • 18 January 2019
Back to Top
  • Contact
  • Marketing solutions
  • Enterprise IT Events
  • About
  • Terms & conditions
  • Privacy policy
  • RSS
  • Twitter
  • Newsletters
  • Facebook
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017