IBM closed its $34 billion Red Hat acquisition in the third quarter and lowered its full-year earnings estimates.
to take into account the impact from Red Hat, pointing to the suspension of share buybacks, an adjustment to the balance of deferred Red Hat revenue and equity and retention costs. The company announced deals with AT&T, Avaya and the Bank of China, and it introduced the z15 mainframe computer.
"We think the combination of new products should enable the company's Systems segment to revert to growth in CY20 following recent declines ," Evercore ISI analyst Amit Daryanani, who has the equivalent of a buy rating on IBM stock, wrote in a note distributed to clients on Monday. "Assuming the z15 will be consistent with prior cycles, we think this positions IBM for solid y/y growth in CY20 ."Analysts polled by Refinitiv expect $12.
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