Cramer: IBM's Disastrous Quarter

We've got it -- the new benchmark in bad: IBM (IBM).

I don't know if you could have blown a quarter as badly as IBM did if you tried. This is not the first time this has happened -- or the second, or the third. In fact, as the always-rigorous Tony Saconaghi -- one of my favorite tech analysts -- pointed this out as part of the open rebellion on the conference call: "You've missed consensus revenue expectations for seven quarters." This most recent one was by far the worse miss of them all. As Tony pointed out on the call: "If it weren't for a huge tax benefit this quarter, it would have been a very significant earnings-per-share miss." He then added that something very different is occurring at the company from what has been the case in the last seven to eight years....353 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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