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IBM reports better-than-expected earnings, maintains full-year guidance

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IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.

Full-year guidance doesn't account for impact from Red Hat.Jason Alden | Bloomberg | Getty Images

The GTS business is "declining ~3% as the company repositions this portfolio for higher profitability and growth," Stifel analysts led by David Grossman wrote in a note on July 9. "Declines are likely to remain at these levels through most of this year as the company exits lower margin capital intensive business and culls low growth/margin relationships from the portfolio."

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This is really rude and disrespectful, but I couldn't help myself. Does anybody else see a gremlin here? The resemblance is uncanny. Sorry for the disrespect.

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