IBM Warns of $3.5 Billion Forex Hit as Quarterly Earnings Beat Estimates

IBM announced that it had beat quarterly revenue expectations on Monday. However, the 110-year-old IT firm warned that foreign exchange could cause a revenue hit of 6 percent this year on the back of a strong dollar. Other firms like Microsoft and Salesforce have also tempered expectations thanks to a hawkish Federal Reserve and heightened geopolitical tensions that h...

from Gadgets 360 https://ift.tt/IWcirzt