IBM (IBM) reports after the closing bell on Monday, July 20th, 2020, and Street consensus (per IBES by Refinitiv) is expecting earnings per share of $2.07 on $17.7 billion in revenue for expected year-over-year (y/y) declines of -35% and -8% respectively.

For IBM, this 2nd quarter of 2020, like much of the S&P 500 is expected to be the nadir in terms of y/y declines in the financial metrics, and earnings per share and revenue are expected to be "less worse" going forward.

It's a small consolation, but it is what it is.

The Q2 '20 estimates after the Q1 '20 report were EPS of $2.12 and $17.65 billion in revenue, so readers have seen some negative revisions to IBM's Q2 '20 EPS estimate in the last 90 days, but the expected revenue print is a little higher than just after the Q1 '20 earnings report.

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