International Business Machines (IBM) stock is up about 5% after the technology company
issued better-than-expected third quarter earnings.
The Armonk, New York-based company said it earned $1.81 U.S. per share versus $1.77 U.S.
a share that was expected on Wall Street.
Revenue in the period ended September 30 came in at $14.11 billion U.S. versus $13.51 billion
U.S. expected by analysts, according to Refinitiv data. IBM’s revenue was up 6.5% from a year
earlier, according to the company.
Revenue from software sales totaled $5.81 billion U.S. in Q3. That represents annual growth of
7.5% and exceeds the $5.54 billion U.S. forecast of analysts. Consulting revenue amounted to
$4.70 billion U.S., which was up 5.5% and above expectations.
IBM maintained the full-year guidance it issued in July of around $10 billion U.S. in free cash
flow.
IBM stock is down 10% this year and trading at $122.51 U.S. per share.
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