IBM Earnings Are Coming. What to Expect.

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When IBM reports first-quarter earnings on Tuesday, Wall Street will be focused on the growth rate of the tech giant’s software business—and any hints on the early progress on the company’s latest generation of mainframe computers.

Wall Street projects IBM (ticker: IBM) will post revenue of $13.8 billion, with profits of $1.40 a share for the March quarter. In the year-ago period, IBM reported revenue of $17.7 billion, but that was before the company completed the spin off of Kyndryl (KD), IBM’s former IT services management…