International Business Machines Q1 Profit Beats Street, Revenues Gain
International Business Machines Corp. (IBM) Monday reported an earnings for the first quarter that trumped Wall Street estimates, after the company returned to sales growth after four quarters.
Armonk, New York-based IBM reported first-quarter profit of $955 million or $1.06 per share, down from $1.18 billion or $1.32 per share last year.
Excluding items, IBM’s adjusted earnings were $1.77 per share for the period, down from $1.84 per share last year. Analysts polled by Thomson Reuters expected earnings of $1.63 per share. Analysts’ estimates typically exclude special items.
IBM’s first-quarter revenues rose 1 percent to $17.73 billion from $17.57 billion last year. Analysts had a consensus revenue estimate of $17.34 billion for the quarter.
Total cloud revenue was $6.5 billion, up 21 percent.
“Strong performance this quarter in cloud, driven by increasing client adoption of our hybrid cloud platform, and growth in software and consulting enabled us to get off to a solid start for the year,” said CEO Arvind Krishna. “While we have more work to do, we are confident we can achieve full-year revenue growth and meet our adjusted free cash flow target in 2021.”
Looking forward, the company said it expects to grow revenues for the full year 2021 based on mid-April foreign exchange rates.
IBM closed Monday’s trading at $133.12, down $0.47 or 0.35%, on the Nasdaq. The stock, however, gained $3.44 or 2.58%, in the after-hours trading.
Kentucky Derby 2021: Everything you need to know about the 147th Run for the Roses
There's a lot to know about what Churchill Downs calls "America's Greatest Race" and the fastest two minutes in sports.
With the coronavirus pandemic persisting, the 147th Run for the Roses won't look the same as it has in years past, but it will be closer to normal than the 2020 race run in September.
For now, we'll start with the basics. Here's everything you want to know about the 2021 Kentucky Derby.
When is the Kentucky Derby?
The Kentucky Derby has been held every year since 1875 and has been staged on the first Saturday in May every year since 1946, with two exceptions. The 1945 Derby was held on June 9 because of World War II and last year's 146th Kentucky Derby was held on Sept. 5 after it was moved over fears of the coronavirus pandemic.
This year, the Kentucky Derby falls on May 1. The Kentucky Oaks will be held Friday, April 30.
What time is the Kentucky Derby?
Where to Stream ‘Nomadland’ and Other Big Oscar Winners
All of the Oscar winners can be watched at home. Here’s a guide.
By Scott Tobias
At least 4 Proud Boys shared intelligence with the FBI before the Capitol riot, Reuters reported
- The FBI had sources inside the far-right group the Proud Boys since at least 2019, according to Reuters.
- Members of the Proud Boys participated in the January 6 riot at the US Capitol.
- According to the report Monday, the FBI had at least four sources within the group.
- See more stories on Insider’s business page.
At least four members of the far-right extremist group the Proud Boys shared information with the Federal Bureau of Investigation before the January 6 riot at the US Capitol, according to Reuters.
FBI agents maintained contact with leaders of the organization since at least 2019, sources told Reuters. In total, at least four Proud Boys members have provided information to FBI agents, Reuters reported.
The Proud Boys members were typically sharing information about Antifa, the leaderless left-wing activist group that has been often criticized by former President Donald Trump and other members of the GOP.
FBI Director Christopher Wray in March testimony before Congress said he wished the agency had been better able to penetrate the far-right organization ahead of the riot.
Trevor Lawrence partners with Blockfolio, will have signing bonus placed into cryptocurrency account
Trevor Lawrence is going to get paid this week — in crypto.
The presumptive No. 1 overall pick in the 2021 NFL draft, almost surely headed to the Jacksonville Jaguars, has partnered with a global cryptocurrency investment app called Blockfolio and will place his signing bonus into an account with the company.
"When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust," Lawrence said in a release.
Lawrence's portfolio includes mainstream cryptocurrencies such as Bitcoin and Ethereum. He's also invested in Solana, a lesser-known blockchain.
According to Spotrac, the signing bonus for this year's No. 1 pick is an estimated $22,630,055.
France's patients in ICUs for COVID above 6,000 again
PARIS (Reuters) – French health authorities said on Monday there were 23 more patients in intensive care units (ICUs) with COVID-19, bringing the total to 6,001, the first time the 6,000 limit was breached since April 17 2020.