The technology firm IBM announced today that it closed 2019 with a profit of 9,431 million dollars, which is 8% more than the previous year, a figure that consolidates the company’s turnaround and its return to a positive path in recent times.
During the past twelve months, the company based in Armonk (New York), earned 77,147 million, an amount below the 79,591 million invoiced in 2018, but which was offset by a substantial reduction in the provision for taxes.
For their part, IBM shareholders earned $10.63 per share last year, up from $9.57 in the previous year.
The gross operating profit of the company led by Ginni Rometty was 10,166 million dollars during the last twelve months, below the 11,342 million dollars of 2018, while the company has significantly increased its long-term debt from 35,605 million dollars at the end of the year to the current 54,102.
With regard to the fourth and final quarter of the year, the one most followed today by analysts on Wall Street, IBM earned between October and December 2019 3,670 million dollars, compared to the profits of 1,951 million dollars recorded in the same period last year.
In this last quarter, the technology company earned 21,777 million dollars, and shareholders obtained 4.14 dollars for each stock in its possession.
Global Technology Services remains IBM’s largest source of revenue (35.5%), but is closely followed by Cognitive Software and the Cloud (30%) and, even further away, Global Business Services (21.5%).
The good results presented by the technology firm encouraged Wall Street, and its shares appreciated by 4.01 % to $144.75 per share in electronic transactions after the close of the New York Stock Exchange.