News Formal

IBM shares jump after better-than-expected earnings

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

IBM shares jumped about 6% in after-hours trading Monday after a second-quarter earnings report that was not quite as painful as Wall Street had feared, despite disruptions caused by the coronavirus pandemic

New York .

The company reported earnings of $2.18 per share — down 31% from the same period in the prior year — on $18.1 billion in revenue during the three months ended June 30. Wall Street analysts had predicted earnings of $2.07 per share on $17.7 billion in revenue. Cloud computing was a bright spot for IBM . Sales from its cloud and cognitive software division rose 3% from the year-ago quarter to $5.7 billion, led by a nearly 30% jump in cloud and data platforms revenue.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Cooking the books?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: IBM, Moderna, Tesla and moreSee which stocks are posting big moves after the bell.
Source: CNBC - 🏆 12. / 72 Read more »

IBM earnings beat estimates on cloud strength; shares up 6%International Business Machines Corp posted second-quarter revenue and profit that beat analysts' estimates on Monday, riding on the strength of its high-margin cloud computing business, sending its shares up 6%. 😮 Who wudda thunk IBM....IBM.... Impervious to a nasty Virus....?
Source: Reuters - 🏆 2. / 97 Read more »