IBM Chief Gerstner Says Y2k Hangover Is History : LUSENET : TB2K spinoff uncensored : One Thread

Gerstner -- Y2k Hangover Is History


IBM CEO Lou Gerstner kicked off Big Blue's annual shindig for Wall Street analysts Tuesday with an optimistic outlook. Gerstner said the Y2K hangover is history, the second half is looking good and the company's portfolio restructuring will pay off in upcoming quarters.

Gerstner, who presents to Wall Street analysts once a year, covered a wide range of topics, including industry trends, the outlook for business-to-business commerce and the specifics of IBM's vast empire.

The Big Blue chieftain didn't stray from previous guidance of high single digit revenue growth and double-digit earnings growth for the company. IBM (NYSE: IBM), however, will occasionally post double-digit sales growth.

Here's what Gerstner had to say:

On the first quarter and second half outlook, Gerstner reiterated previous guidance and said Year 2000 spending lockdowns hit the company "with a wet fish."

"Y2K continued to hurt us, but that's over now," he said. "We're putting that behind us."

-- Chicken Little (, May 11, 2000


You can't believe this self-reported, self-serving, PR press-release fluff! Why aren't they telling us what they *aren't* telling us? What do they have to hide!? Chicken must be a gubmint shill troll! Delete!

Y2k cannot be fixed!

WHOAAAA... MAJOR flashback! Sorry.

-- CD (, May 11, 2000.

(hee hee hee hee!)

-- Chicken Little (, May 11, 2000.

"IBM Q1 Revenues Seen Flat Due to Lingering Y2K Spending Slowdown"

-- IBM in (the@1st.quarter), May 11, 2000.

Moderation questions? read the FAQ