IBM Needs Software Unit to Stop Shrinking to Reach Profit Target
IBM Profit Beats Estimates
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IBM’s full-year earnings will greatly hinge on a business unit in flux: software.
International Business Machines Corp. held to its forecast for full-year operating profit of $15.75 to $16.50 a share, when it reported first-quarter earnings on Monday. To reach the high end, IBM needs its software business to stop shrinking, Chief Financial Officer Martin Schroeter said on a conference call.