IBM stock ticks higher on earnings beat

International Business Machines Corp. shares ticked higher in the extended session Wednesday after Big Blue topped earnings estimates and reiterated its free-cash-flow forecast for the year on “neutral” revenue growth.

The company reported... International Business Machines Corp. shares ticked higher in the extended session Wednesday after Big Blue topped earnings estimates and reiterated its free-cash-flow forecast for the year on “neutral” revenue growth. The company reported first-quarter net income of $927 million, or $1.02 a share, compared with $733 million, or 82 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.36 a share, compared with $1.40 a share in the year-ago period.

Analysts surveyed by FactSet had forecast $1.26 a share on revenue of $14.35 billion. Prior to the earnings report, one analyst had said IBM would have to turn in “nearly pristine” results to support the stock.

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