Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. Actual performance may differ significantly from backtested performance. Further, backtesting allows the security selection methodology to be adjusted until past returns are maximized. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process.
Backtested performance is developed with the benefit of hindsight and has inherent limitations. This information is provided for illustrative purposes only. No representations and warranties are made as to the reasonableness of the assumptions. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Changes in these assumptions may have a material impact on the backtested returns presented. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. Backtested results are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Backtested performance is not an indicator of future actual results. National Bank Misses Q1 Earnings Estimate but Finds Silver Liningĭisclaimer: The TipRanks Smart Score performance is based on backtested results. Further, its robust liquidity position gives it a strong footing to strategically carry out its moves in the future.ĭiscover new investment ideas with data you can trust.īank of New York Mellon Posts Mixed Q1 Results IBM’s solid quarterly results have exceeded expectations. Shares have declined 2.1% over the past year.
IBM’s average price target of $143.75 implies upside potential of 11.3% from current levels. We are off to a solid start for the year, and we now see revenue growth for 2022 at the high end of our model.” Stock RatingĬonsensus among analysts is a Hold based on five Buys, five Holds and two Sells. Today we’re a more focused business and our results reflect the execution of our strategy.
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The CEO of IBM, Arvind Krishna, said, “Demand for hybrid cloud and AI drove growth in both Software and Consulting in the first quarter.
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In terms of cash flow metrics for the first quarter, the company generated net cash from operating activities of $3.2 billion and free cash flow of $1.2 billion. The company’s gross profit margin dipped from 53.3% in the previous year to 51.7%. Further, the figure topped the consensus estimate of $1.38 per share. Software and Consulting, the primary revenue segments, grew 12% and 13%, respectively, and drove the overall growth in revenues for the company.Įarnings per share (EPS) for the quarter stood at $1.40, up 25% from the same quarter last year. The figure surpassed the consensus estimate of $13.85 billion. IBM reported revenues of $14.2 billion, up 7.7% year-over-year. The robust results were marked by solid revenue growth.įollowing the results, shares of the company rose 1.4% to close at $131.01 in Tuesday’s extended trading session, after gaining 2.4% during the day. Global technology giant International Business Machines Corporation ( NYSE: IBM), popularly known as IBM, has posted better-than-expected results for the first quarter ended March 31, 2022.
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