We are now discussing quarterly reports from two tech giants, AT&T and IBM.

IBM reports for Q3, 2021: Poor results cause shares to drop

IBM presented its Q3 report Wednesday, October 20th. The results of the quarter were disappointing for both Wall Street analysts and the company's management.

Global Technology Services and Systems's drop in revenue is responsible for the extremely low growth in profit. They fell by 5%, 12% and $1.1 billion respectively in July-September.

Cloud&Cognitive Software revenue grew just 2% to $5.7billion. This was a more remarkable result than expected.

Global Business Services revenue increased 11% over Q3.

Global Business Services bought IBM $4.4 billion. This 11% increase over Q3, 2020's result. Red Hat, a software company purchased by the corporation for $34 Billion in 2019, showed a significant increase in revenue of 17%.

International Business Machines (NYSE : IBM) shares dropped by 9.56% to $128.33 the day following publication of the report. The shares had been falling for four consecutive sessions.

Important report details

• Revenue -- $17.6 Billion, +0.3%. Forecast -- $17.77 Billion
• Return on stock -- $1.25; -34%; forecast -- 1.27
• Net profit -- $1.1 Billion, -33%

Maksim Artyomov - Tech analysis of IBM shares

IBM is proof that not all market forecasts match the actual performance of the company. Its shares opened trading with a gap, and then continued falling. The 200-days Moving average has been broken. This could signal a trend reversal.

The quotations are now close to the ascending channel's lower border. This impulse I believe is panic-related, as long as they are not in the negative zone. Analyzing D1 I could not ignore the fact that this was a new record year and that the quotations were correcting.

If investors feel more confident, the chances are that the quotations will rebound from the support level and resume their uptrend. The $140 target for growth will be the first, which will allow the price to fill the gap.

AT&T reports Q3 2021 profit growth of 111%

AT&T, the US telecom company, reported Q3 2021 results on October 21st. This was due to the 111% increase in quarterly profit compared to July-September 2020. Analysts weren't so optimistic.

The number of HBO Max subscribers increased 22% to 69.4 Million people in Q3, 2021

Wall Street analysts were also surprised by the results of different company services subscribers. The number of HBO Max subscribers increased 22% to 69.4million people. The number of postpaid subscribers rose by 4.6% to 66.4million people. Fiber optic subscribers increased by 21.3%, to 5.7million people.

The statistics revealed that AT&T's shares closed on October 21st, with a decrease of 0.58% to $25.76. In the midst of waiting for the report to be released, investors raised the share price by 2.3% in 2 days

Important report details

• Revenue -- $39.9 Billion, -5.7%. Forecast -- $41.3 Billion
• Return on stock -- $0.82; +110%; forecast -- $0.79
• Net Profit -- $5.9 Billion, +111%

Maksim Artyomov - Tech analysis of AT&T shares

The company's shares have been falling despite the increase in net profit. The channel's lower boundary and the horizontal support level of $25 might be the targets of the fall.

Because it wouldn't stop falling, the 200-days MA confirms that there has been a decline. The support level might be tested and the quotations could bounce back to form another correction.

Summarising

Two tech giants, AT&T and IBM, filed financial reports for Q3, 2021. Their shares fell 10% after the first reported very poor July-September results. Although the second company saw impressive profit growth, its shares fell by 0.58%.

R Blog has more quarterly reports

• Snap, Twitter, Facebook shares fall abruptly
• Quarterly Reports: Ambiguously Reacted to Shares in Netflix, Johnson &Johnson and Philip Morris
JPMorgan, Bank of America and Morgan Stanley, Citigroup and Wells Fargo give reports for Q3, 2021
• Levi Strauss shares rose after strong quarterly report

--------------------