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Technology Stocks : IBM

IBM 298.60

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To: Jonathan Edwards who wrote (6904)	10/17/2000 5:22:15 PM
From: art slott	Read Replies (1) of 8218

IBM sees stronger 4th qtr sales growth up from 3rd qtr NEW YORK, Oct 17 (Reuters) - International Business Machines Corp.'s (NYSE:IBM - news) Chief Financial Officer John Joyce said on Tuesday that he expects fourth quarter sales growth to be stronger than third quarter sales growth, which missed Wall Street expectations. ``Although we are in a volatile and demanding business environment, our revenue growth should be stronger (in the fourth quarter) than in the third quarter and we are driving to achieve consensus earnings per share in the fourth quarter,'' he said in a conference call following the company's third quarter earnings report. The fourth quarter analyst consensus estimate is $1.48, according to First Call/Thomson Financial. He added that the impact of a weak euro, which hurt third quarter earnings as sales made were converted back to dollars, could be even greater in the fourth quarter. ``The rapid rate of the euro's decline did not provide opportunities to hedge to offset losses,'' he said of the unified European currency. Joyce stopped short of promising the double-digit revenue growth the company has said it could deliver in the second half of this year.

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