Subscribe to our free daily newsletters
. 24/7 Space News .




Subscribe to our free daily newsletters



TECH SPACE
IBM plays down earnings miss as part of evolution
By Glenn CHAPMAN
Laguna Beach, United States (AFP) Oct 20, 2015


IBM's top executive on Tuesday played down an earnings miss that hammered the technology old-timer's shares, saying the company is evolving to thrive in a new age.

"Those results show a lot of progress and a lot of work to be done," IBM chief executive Virginia Rometty said during an on-stage chat at a WSJD Live technology conference in California.

"We are 104 years old; the reason we are the only company still here is because we have transformed."

IBM shares were down more than five percent to $140.83 in mid-afternoon trading on the New York Stock Exchange.

Rometty said that IBM is focusing on cloud services, mobility, and data analytics, with its Jeopardy television game show winning Watson artificial intelligence poised to differentiate the company from competitors.

IBM reported a profit of $2.95 billion but revenues tumbled a disappointing 14 percent from a year ago, the 14th consecutive decline in revenue.

While IBM earnings overall disappointed the market, Rometty pointed out that revenue in each of those categories at the company leapt.

"It is the right decision for the long term," Rometty said.

"We are a $90 billion company transforming. We are completely changing the portfolio and we are doing it in public."

- Health care moon shot -

She noted that IBM has acquired some 37 companies during her more than three years at the helm and said that the company will continue to buy enterprises that it believes will complement its goals.

IBM in August set out to boost the capacity of its Watson supercomputer, acquiring medical imaging group Merge Healthcare for $1 billon.

The new group will be integrated into IBM's Watson Health platform, which sifts through vast amounts of research and medical data to help health professionals improve treatment.

"It will be our moonshot to redo health care," Rometty said, using a term coined at Google for projects such as self-driving cars and delivering Internet service from high-altitude balloons.

Watson is being taught to recognize things such as lesions or tumors in medical imaging.

IBM plans to analyze cross-reference medical images against a deep trove of lab results, electronic health records, genomic tests, clinical studies and other health data -- which the company estimates represent 315 billion data points and 90 million unique records.

With the new platform Watson will be able to view medical images of a person at different times to detect changes or abnormalities.

- Man and machine -

Rometty saw the coming of an era of "cognitive" computing that disrupts the way digital companies operate.

"Systems that can understand all sorts of data, they can reason and they can learn," Rometty said.

"It will be an era of man and machine being better; it is collaborative when done correctly."

While the amount of data gathered in the digital age has rocketed, the bulk of it has been incomprehensible to computers that don't typically know what to make of songs, poems, pictures, video and more.

Internet titans including Google, Facebook and Microsoft have been working on making computers smarter when it comes to seeing the world the way people do.

IBM's transformation has included selling off billions of dollars worth of businesses, such as its personal computer unit, that the US company didn't see as part of it future.

IBM's path has included recent alliances with companies such as Apple, Twitter and Facebook.

- China sees source code -

While fielding questions, Rometty confirmed that IBM has allowed officials in China and other countries look at source code in secure settings.

She said the practice has been around for more than a decade, and it is intended to assure governments that there are no backdoors into software or data being shared in secret.

"It boils down to one word: trust," Rometty said.

"You have to assure a government, many governments around the world. It is called a highly controlled demonstration."

IBM has been in China for decades, and along with selling in that market the company has labs, research centers and looks for talent there, according to Rometty.

gc/rl

IBM


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

.


Related Links
Space Technology News - Applications and Research






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TECH SPACE
Mathematicians find 'magic key' to drive Ramanujan's taxi-cab number
Atlanta GA (SPX) Oct 15, 2015
Taxi-cab numbers, among the most beloved integers in math, trace their origins to 1918 and what seemed like a casual insight by the Indian genius Srinivasa Ramanujan. Now mathematicians at Emory University have discovered that Ramanujan did not just identify the first taxi-cab number - 1729 - and its quirky properties. He showed how the number relates to elliptic curves and K3 surfaces - objects ... read more


TECH SPACE
Europe-Russia Lunar mission will make them friends again

Mound near lunar south pole formed by unique volcanic process

Lunar Pox

Space startup confirms plans for robotic moon landings

TECH SPACE
You too can learn to farm on Mars

The Martian Astrobiologist

Opportunity parked for solar panels to charge up for winter

Pebbles on Mars likely traveled tens of miles down a riverbed

TECH SPACE
Journaling: Astronauts chronicle missions

Brands eye big bucks with 'Back to the Future' nostalgia

Russian Cosmonauts Taste 160 Meals Ahead of Space Station Expedition

NASA, Israel ink space cooperation agreement

TECH SPACE
Latest Mars film bespeaks potential of China-U.S. space cooperation

Exhibition on "father of Chinese rocketry" opens in U.S.

The First Meeting of the U.S.-China Space Dialogue

China's new carrier rocket succeeds in 1st trip

TECH SPACE
RSC Energia patented inflatable space module for ISS

Clearing the Space Fog on ISS

International Space Agencies Meet to Advance Space Exploration

Meet the International Docking Adapter

TECH SPACE
ORBCOMM Announces Launch Window For Second OG2 Mission

10th Anniversary of the Final Titan

China puts new communication satellite into orbit for HK company

ISRO to Launch 6 Singapore Satellites in December

TECH SPACE
Most earth-like worlds have yet to be born, according to theoretical study

Airbus DS ready to start testing exoplanet tracker CHEOPS

Hubble Telescope Spots Mysterious Space Objects

Exoplanet Anniversary: From Zero to Thousands in 20 Years

TECH SPACE
IBM plays down earnings miss as part of evolution

Army orders more counter-fire target radars

Western Digital buys SanDisk in $19 bn tech deal

NY Times teams with Google on virtual reality project




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement