IBM stock rises as earnings, cloud revenue beat Street view

International Business Machines Corp. shares rose in the extended session Wednesday after the tech giant topped Wall Street earnings estimates for the second quarter and cloud revenue grew.

The company reported second-quarter net income of $2.5 billion, or $2.81 a share, compared with $2.4 billion, or $2.61 a share, in the year-ago period. Adjusted earnings were $3.17 a share.Analysts surveyed by FactSet had forecast earnings of $3.08 a share on revenue of $19.17 billion. Cloud and cognitive services revenue rose to $5.65 billion from $5.47 billion in the year-ago period, while analysts expected $5.55 billion.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Jim Cramer reviews 6 stocks that 'have been anointed by Wall Street' amid an economic slowdown'They'll be the second-half winners that the big money guys just can't get enough of,' Jim Cramer says. Pretty easy to pick stocks that have already had a big bull run. That may or may not continue. If the economy slows disposable income drops which hits about half his picks. Trump advertises for McDonalds enough to keep it up, with his blood pressure.
Source: CNBC - 🏆 12. / 72 Read more »

Goldman Sachs will report earnings before the bell — here's what the Street expectsAnalysts polled by Refinitiv are expecting earnings of $4.89 per share and revenue of $88.828 billion when Goldman Sachs reports second-quarter earnings Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »