IT hardware and services firm IBM Corp beat quarterly revenue expectations on Monday.
IBM- Hardware & Services
IBM- Forex Impact
It warned that the impact of forex in the coming year could be approximately $3.5 billion.
A more hawkish Federal Reserve and heightened geopolitical tensions have led to gains in dollars.
IBM- Federal Reserve
Significant international operations like Microsoft and Salesforce to reduce expectations.
IBM- International Operations
The impact of leaving Russia operations have affected IBM's short-term performance.
IBM- Leaving Russia
The company has reiterated its year-end forecast to hit the upper end of the mid-single digit growth.
IBM- Year End Forecast
IBM anticipates a foreign currency impact on revenue of around 6 percent this next year Kavanaugh said.
IBM- Foreign Currency
Image Source- IBM.com
The second quarter's revenue fell by $900 million because of the stronger U.S. dollar, Kavanaugh added.
IBM- Second Quarter
Image Source- Barron's
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