IBM reports $534m loss

Tuesday 17 October 1995 23:02 BST

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

IBM reported a third-quarter loss of $543m (pounds 362m), including a charge of $1.8bn related to its acquisition of Lotus Development. Excluding the Lotus purchase, IBM said its profits rose to $1.3bn, or $2.30 a share, compared with earnings of $689m, or $1.18 a share, in the same period of 1994. Including the Lotus purchase, IBM lost 96 cents a share for the quarter.

The world's largest computer company said it planned to take an additional charge of $800m in the fourth quarter to pay for reorganisation, including limited staff cuts this year.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

IBM reports $534m loss

Join our commenting forum

Thank you for registering