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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (56854)4/21/1999 5:01:00 PM
From: SteveP  Read Replies (2) of 132070
 
MB et al,

Did you see the IBM numbers? Earned $1.55 vs est $1.41. Not bad until one looks more closely at the numbers. Revenues are up nicely, ~14% I believe, but profits are up 50%. That's not quite kosher, right? Gross margins are down virtually across the board which also is kinda funny given the increase in earnings. So, where's the beef? Tax rate is down (32 % to 30%) and the number of shares are down. Long term debt is up. I think those are the salient pieces of info. So all in all, I don't think the report is as good as the earnings number initially indicates, but the question is how will the Street respond. My guess is that it'll be up 'cause all that people will see is that the earnings were significantly above the estimates.
Your view?

Steve
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