IBM's Complicated Watson Could Be Destroying Shareholder Value

A very cool tool which mastered jeopardy and more but is IBM’s Watson hurting returns? IBM’s second quarter results, published earlier this week, make for dismal reading. Big Blue unveiled its 21st straight quarter of revenue contraction, and even though the company topped analysts’ expectations for profit, once again the bottom line was boosted by some one-off figures, something the company has become increasingly dependent on to meet targets in recent years. Pro forma earnings per share of $2.97 beat expectations of $2.75 but a one-off tax benefit in the quarter added $0.18 to earnings per share. High Yield Is…