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International Business Machines Corporation Message Board

  • blackcombgrouse blackcombgrouse Jan 29, 2013 11:52 AM Flag

    NON GAAP earnings

    NON GAAP earnings are generally used by fast growing small companies .
    When a mega Cap long established Tech company is using them to report earnings as IBM has been doing , something is fishy in their accounting methods .
    There is only one way a company can keep earnings growth while sales are flat to down and it is NOT by year after year cutting costs .
    The end result of all this is a tangible book value which goes more negative each quarter while the stock price goes in the opposite direction .
    The GAP between them must now be close to $220 .
    Imagine paying $220 more than the actual value to obtain a 1.5% interest a year .Buyers are crazy just like those analysts that promote IBM

 
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