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“蓝色巨人”IBM(IBM.US)股价在盘后交易中下跌,因为该公司的业绩不够强劲,不足以平息投资者对关税和美国联邦政府减少支出将削弱公司业务的担忧。IBM周三公布,第一季度销售额增长近1%,至145亿美元,好于市场预期;不计部分项目的每股收益为1.60美元,好于市场预期。

IBM首席执行官ArvindKrishna在财报公布后的电话会议上表示:“短期内,不确定性可能会导致客户停止交易。”不过,他表示,公司“尚未看到客户购买行为出现实质性变化”。

IBM在盘后交易中下跌约7%。在最近几周市场普遍下跌的背景下,IBM一直是相对安全的避风港。该股今年以来上涨了12%,而同期标普500指数下跌了8.6%。

EvercoreISI分析师AmitDaryanani表示,IBM“在过去几周的关税风波中表现非常出色”。因此,他表示,投资者期待更多的“完美”业绩。

IBM致力于从一家传统的计算机公司转型为一家专注于高增长软件和服务的公司。该公司通过收购来拓展产品线,包括今年2月完成的对HashiCorpInc.的收购,以及2023年以46亿美元收购Apptio。

IBM表示,自2023年年中以来,人工智能咨询和软件的订单已超过60亿美元。这一数字高于IBM在1月份财报中披露的50亿美元。约80%的订单来自咨询部门,其余来自软件部门。

软件业务仍是IBM增长最快的部门,第一季度该部门销售额增长了7%,达到63亿美元。第一季度咨询部门销售额下降2%,至51亿美元。这些指标均符合市场预期。

基础设施部门销售额下降6%,至29亿美元。本月早些时候,IBM发布了其最新的大型主机系统,并表示部分业务数据将保留在客户自有服务器上,永远不会托管在云上。

首席财务官JimKavanaugh表示,季度收益反映了IBM业务的“持久性和弹性”。

尽管如此,美国政府效率部(DOGE)领导的美国政府成本削减行动正在产生影响。Kavanaugh表示,IBM与美国联邦政府签订的约15份合同已被取消或暂停,涉及约1亿美元的未来付款。Kavanaugh补充说,美国联邦政府销售额占IBM总销售额的比例不到5%。

IBM高管指出,他们今年对咨询业务更加谨慎。Krishna在电话会议上表示,该部门“更容易受到业务取消和与DOGE相关举措的影响”。

IBM周三罕见地发布了季度业绩指引,预计第二季度销售额将在164亿美元至168亿美元之间。分析师的平均预期为163亿美元。

该公司维持全年业绩指引,即按固定汇率计算,自由现金流约为135亿美元,销售额增长至少5%。

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