Thread regarding IBM layoffs

Well if DIv takes a hit we are done :-(

@4vpf+1tmSvSda

non-GAAP is the only thing JK will provide for the next quarterly report later this month.....maybe IBM needs an audit in addition to the management haircut.

generally unacceptable accounting principles=fraud,deception,dishonest,...
what is a colorful way of describing it - financial games

one of the problems with this is you introduce cancer into the company
more people do it and possibly more severely
then when does it stop

GAAP should be a condition of being listed on a stock market.

Let's expand the term "non-GAAP":

non-Generally-Acceptable-Accounting-Principles

or equivalently:

generally unacceptable accounting principles

IBM switched to non-GAAP financial reporting, thus allowing it to define ("financially engineer") the metrics it chooses to report on so that it can obscure its revenue and operating expenses.

Since there are no SEC enforceable non-GAAP reporting standards, it is virtually impossible for investors to reliably compare IBM's health against other companies. Furthermore, making "crystal ball" predictions is futile since they'll just 're-engineer' their financial reports to align with the marketing "message du jour" that best suits their needs.

OBTW: once a company uses non-GAAP to report their financials, you'll never see it go back to using GAAP...for obvious reasons.

@3zcx+1tmSvSda

Is there any breakdown of the number of employees is each geo ? The fat oaf JK, ducks the issue every time it comes up, presumably because US employees are the most expendable to ensure Arvind's gross and obscene bonus. It should be pay for performance and there should be big clawbacks for failure to achieve targets. Intel technology is no longer the ruling the data centers as it once was, and neither is IBM. The times are a changin', for sure.

So go back into the “wayback” machine to view when IBM was a 63 billion dollar company. Gerstner was CEO and IBM’s size was 220k head count. (approx 1993-1994) That’s where IBM is heading. 1993 = stalled revenue and stalled strategy. IBM was slicing and dicing to appease Wall Street. 2024 looks to be repeating 1993. AK has called the play which is to morph into a NICHE Enterprise company. What does that mean? IBM is focused on performance that Intel, and the big cloud players can’t provide. There isn’t much growth there, but there also isn’t much shrinkage either. IBM is set to slowly shrink their way to prosperity.

You need to go back farther in history for context.

Revenue $B
2011 106.9
2012 104.5
2013 99.8
2014 92.8
2015 81.7
2016 79.9
2017 79.1
2018 79.6
2019 77.1
2020 73.6
2021 57.4
2022 60.5
2023 61.9

This is the revenue history back thru 2020
IBM revenue for the quarter ending March 31, 2024 was $14.462B, a 1.47% increase year-over-year.
IBM revenue for the twelve months ending March 31, 2024 was $62.070B, a 2.45% increase year-over-year.
IBM annual revenue for 2023 was $61.86B, a 2.2% increase from 2022.
IBM annual revenue for 2022 was $60.53B, a 5.54% increase from 2021.
IBM annual revenue for 2021 was $57.35B, a 3.93% increase from 2020.

IBM’s revenue leaves a lot to be desired given inflation! I would speculate IBM is saving (cost cutting) their way to revenue increases vs growing their way to revenue increases. That is not sustainable long term without a change in strategy

Uff it’s not that bad lol, clearly revenue is going up :)