"The portfolio will grow. I am confident that the IBM company will grow again," Schroeter said. "We're taking
"We have not been solely focused on just that top line, headline number of 'when can we print growth.' Had we wanted to print growth, we probably wouldn't have divested of $8 billion worth of businesses. We'd probably reduce our investments overseas, where, obviously, there's a currency impact, so that has not been our focus, and so that 20 quarter headline is probably not the framing that we're thinking about," he added.
The tech company reportedfirst-quarter earnings of $2.38 per share on revenue of $18.16 billion just after the bell on Tuesday, marking the 20th straight quarter of year-over-year revenue declines.
A consensus of analysts polled by Thomson Reuters expected earnings of $2.35 per share on revenue of $18.39 billion.
Schroeter said that while Watson is a key aspect of their businesses, the future is in the cloud.