The New York-based firm declined to say by how much it expects its first-quarter earnings to trail those of a year earlier. However, IBM said it still expects its full-year 1985 results to show "solid growth." IBM's forecast represented somewhat of a downward revision from estimates that it made in mid-February, when it told securities analysts that first-quarter profits probably would be flat. In the first quarter of 1984, IBM earned $1.2 billion on revenue of $9.56 billion.
Copyright © 2019, Los Angeles Times