Saturday, April 21, 2018

IBM annual report 2017


Front page of IBM 2017

For the report in full please go here, for the previous summary please see IBM annual report 2016 and to find out more regarding IBM then please click on analysis of IBM 2017.

Looking at the financial statement below then the drought continues with an added on tax effect on top of that. So once again they had almost 80 billion USD in revenue but instead of getting around 10 billion USD out in profit they ended up with only 5.7 billion USD. Rometty, Rometty, Rometty when shall you manage to show a year of growth with increasing margins and not only shrinkage of everything as you have as of yet provided us shareholders with?


Income statement of IBM 2017


Conclusion: I have now been a shareholder in IBM for four years. It would be a considered as a long time for many but for me it is not. More than half of my investments were made in 2014 or before. I still believe that IBM can turn this around but it is also very clear that the more years that passes the higher the increase they must show for me to reach an acceptable ROI. I have now, unfortunately, turned into a grumpy shareholder in IBM.

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