IBM stock holders

first quarter results on Monday and is expected to post a profit of 90 cents a share. But only a week ago, analysts were expecting $1.04.
What explains this sudden drop?
Take a deep, Big Blue breath. Business didn't just fall off a cliff. The reason that analysts now expect profits to be lower is because IBM announced on April 5 that, starting in the first quarter, it would include the cost of stock options it grants to employees in its earnings reports.
Investors should get used to seeing lower reported profits in general. Thanks to an accounting rule change, all companies will need to start expensing options.

Do you think these projections are fair, or should they be calculated differently.