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  • whynot327 whynot327 Jun 15, 2005 10:44 AM Flag

    Europe

    Anyone know what percentage of revenue is derived from Europe?

    There has been lots of commentary about the strength of US dollar vs. Euro and how it will negatively impact many multi-national companies especially the ones that derive/rely on Europe for big chunk of sales.

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    • This is why i'm asking the question.

      ---------------------
      International Business
      Machines
      EPS (FY Dec) 2005E $4.90, 2006E $5.50 Outperform/Neutral
      (IBM) $74.89
      Although IBM, along with all other US-based multinational companies, will
      experience a revenue reduction as a result of the strengthening dollar, our analysis
      suggests that at least one important fundamental area - namely, services bookings -
      should be solidly up both y/y and q/q. We believe that this runs counter to most
      thinking we have heard, which has typically extended IBMs dismal March quarter
      services bookings performance into the current quarter. If we are right, IBM should
      be on solid footing to grow bookings in 2005 enough to enable 6-7% type services
      revenue growth in 2006. While only a portion of the total picture, services bookings
      are crucial if IBM is going to show revenue growth anywhere near its target of mid to
      high single digits.

 
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