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IBM Earnings Beat, Revenue Misses In Q1

Published 04/16/2019, 04:07 PM
Updated 04/16/2019, 04:27 PM
© Reuters.

© Reuters.

Investing.com - After Tuesday's close, IBM (NYSE:IBM) reported first quarter earnings that beat analysts' expectations, but revenue fell short of forecasts.

The computer giant reported earnings per share of $2.25 on revenue of $18.18 billion. Analysts polled by Investing.com anticipated earnings of $2.22 on revenue of $18.52 billion. The results were down from earnings of $2.45 a share on revenue of $19.07 billion a year ago. Big Blue had reported earnings of $4.87 a share on revenue of $21.76 billion in the fourth quarter.

IBM shares lost 2.8% to $141.01 in after-hours trading. The shares had risen 0.8% in regular trading. IBM shares are up about 27% this year.

IBM said cloud revenue rose 10% to more than $19.5 billion over the last 12 months. Building up the cloud business has been an IBM priority.

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