Its early in the quarter to draw conclusions, but the first wave of earnings statements for Q3 had a mixture of good and bad news.
In the net, I’d call it mildly negative vs. where we thought we were in August. The model slipped -0.1% to -6.6% for 2009. The 2010 model declined to +3.1% from our August estimate of +3.7%.
Lawson, Red Hat, and Tibco met or exceeded the midpoint of their guidance or our estimate of their revenue. Adobe and Accenture came in a little higher than expectation, but both have been very weak all year.
Oracle and Progress had lower than expected revenue growth to report. RIM has light, but they have been on fire all year. The Oracle results were the most disappointing (especially Professional Services) – although Applications wasn’t as disappointing as it has been.
Given currency, vendors with a July 1 to Sept 30th quarter will have a slightly less tough compare with Q32008 than the vendors listed above. However, currency will still be ~2% pt drag overall.
IBM (reporting on 10/15) will be an important bellweather for Q3. We are expecting the following:
Services – $13,569M
Systems – $3,659M
SW – $5,042M
#1 by Micheal4567 on October 23, 2009 - 2:39 pm
i added this to my collge report
regards
mark
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