Anurag Rana

speaker

534 appearances 29 recordings 3 series first heard Dec 2025 last heard 10 Sep

Anurag Rana’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 29 in all, peaking in Apr 2026 with 7.

Appearances

newest first · ▶ plays the moment

Bloomberg Tech · Instant Reaction Earnings Roundup: Microsoft, Meta & Tesla Deliver Results · 28 Jan 2026 podcast

I think there's nothing wrong in going through acquisitions if you don't pay enough for them, if you pay the right amount.

And in this case for IBM, every two years they'd go out and buy something that would help their gross margins, that would help their adjusted EBITDA, that would help their free cash flow, and they use that cash flow to buy more.

But they're already concentrated in certain areas such as hybrid cloud or the ability to make sure that the internal infrastructure of a company or the enterprises

is something that they have a good handle on.

And I think they're executing it very well.

But the consulting division only grew up 1%.

So even though they are getting a lot of that, as you said, 80% of those bookings from consulting, it's not driving the entire division up because as we know from some of the other vendors and we'll find out today also, the non-AI IT spending is pretty bad right now.

throughout the ecosystem so people are cutting back on that and deploying those funds into ai related services and that's something that's hurting ibm as well but imagine even with consulting growing only one percent their total company growth rate was nine percent and i think that's something to you know be proud of

Well, the thing is, think about it this way.

The backlog is up and the capex is up.

Then why isn't growth accelerating?

And I think that's the biggest question for all of us.

I personally think it's a supply problem, but it's a temporary problem.

But as we know right now, the trade is to sell software and buy semis.

And I think I don't see that changing tomorrow morning.

Bloomberg Talks · Instant Reaction Earnings Roundup: Microsoft, Meta & Tesla Deliver Results · 28 Jan 2026 podcast

No, I think it's usually high expectations and the fact that they only met Azure growth rates, which was 38%.

I think that's probably weighing on the stock because one would have expected them to blow out that number.

It has been around 39% the last couple of quarters.

So I think that's where a little disappointment could be.

But that could also be because of supply constraints.

Showing 421–440 of 534 · page 22 of 27