====IBM (IBM) reported earnings on Mon 17 Oct 2016 (a/h)

IBM beats by $0.06, beats on revs; reaffirms FY16 EPS guidance :

• Reports Q3 (Sep) earnings of $3.29 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $3.23; revenues fell 0.3% year/year to $19.23 bln vs the $19.01 bln Capital IQ Consensus. 
• Strategic Imperatives
  • Revenues from the company's strategic imperatives --- cloud, analytics, mobility and security --- increased 16% year to year (up 15% adjusting for currency).
  • Cloud revenues (public, private and hybrid) for the quarter increased 44% (up 42% adjusting for currency). Cloud revenue over the trailing 12 months was $12.7 bln. The annual run rate for cloud as-a-Service revenue --- a subset of total cloud revenue --- increased to $7.5 bln from $4.5 bln in the third quarter of 2015. Revenues from analytics increased 15% (up 14% adjusting for currency). Revenues from mobile increased 19% and revenues from security increased 11%.
• Cognitive Solutions (includes solutions software and transaction processing software) -- revenues of $4.2 bln, up 4.5%.
• Global Business Services (includes consulting, global process services, application management) -- revenues of $4.2 bln, down 0.4% (down 1.6% adjusting for currency).
• Technology Services & Cloud Platforms (includes infrastructure services, technical support services, integration software) -- revenues of $8.7 bln, up 2.4% (up 1.4% adjusting for currency).
• Co reaffirms guidance for FY16, sees EPS of at least $13.50, excluding non-recurring items, vs. $13.51 Capital IQ Consensus; reaffirms FCF.