IBM beats on earnings, but the stock is not being rewarded

International Business Machines Corp. had a better-than-expected second quarter, but shares were not rewarded Monday as an executive warned about the effects of the strengthening dollar.

Shares declined more than 3% after hours, following a 1.3% decline to close Monday’s regular session at $138.13. IBM’s stock has been positive in a rough year, rising 5.9% so far in 2022 while the Dow Jones Industrial Average — which counts IBM as a component — is down 13.9%, the S&P 500 index SPX, -0.84% is off 19% and the tech-heavy Nasdaq Composite Index COMP, -0.81% is down 27.4%.

Last quarter, the company also forecast revenue growth at the high end of its previously forecast model, which was the high end of the mid-single-digit range. Analysts expect full-year revenue of $60.54 billion, or a 5.6% increase from the previous year.

Those earnings score a 65 on my grading scale, read why, I'm not some I'll informed analyst or tv anchor

It seems In these times “great earnings but cautious forward view” means 5% drop at the open.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

3 Stocks to Watch Next Week: IBM, Netflix, Tesla Motors | Investing.comStocks Analysis by Haris Anwar/Investing.com covering: International Business Machines, Netflix Inc, Tesla Inc. Read Haris Anwar/Investing.com's latest article on Investing.com $NFLX on path to loose 2.8 million subscribers -Barclays. Price target is set at $170. cesarluis oh really
Source: Investingcom - 🏆 450. / 53 Read more »

3 Stocks to Watch Next Week: IBM, Netflix, Tesla Motors | Investing.comStocks Analysis by Haris Anwar/Investing.com covering: International Business Machines, Netflix Inc, Tesla Inc. Read Haris Anwar/Investing.com's latest article on Investing.com $NFLX on path to loose 2.8 million subscribers -Barclays. Price target is set at $170. cesarluis oh really
Source: Investingcom - 🏆 450. / 53 Read more »

BAC Stock Earnings: Bank of America misses on top and bottom linesBank of America (BAC) stock is buoyant in Monday's premarket as investors bet on a second quarter earnings beat, which is expected to be released befo
Source: FXStreetNews - 🏆 14. / 72 Read more »

Bank of America posts revenue beat despite quarterly earnings missBank of America's second quarter profit fell to $6.2 billion, or 73 cents per diluted share, compared to $9.2 billion, or $1.03 per share, during the same period a year ago.
Source: FoxBusiness - 🏆 458. / 53 Read more »