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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IBM said to need 'nearly pristine' earnings report to protect its stockFor IBM Corp., earnings need to be "nearly-pristine" when Big Blue reports after the close on Wednesday, while Wall Street focuses on free-cash flow.
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U.S. stocks open lower as investors digest results from IBM, Morgan Stanley and moreU.S. stocks opened lower on Wednesday as investors digested a batch of earnings including results from Morgan Stanley and International Business Machines... IBM? Think they report tonight.
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