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.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
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