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Finding Value in IBM’s 4Q15 Earnings Announcement

January 22, 2016

Versions of this article appeared on SeekingAlpha and Harvest IBM reported FY 2015 revenues in line with IOI’s worst-case projection. Profitability appears to be just at IOI’s best case projection of 16% Owners’ Cash Profit (OCP) margin. After-market sentiment was hurt by IBM’s currency-inclusive projection of FY16 operating earnings of $13.50 / share vs. Street …

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