IBM (IBM) reported first-quarter results late Wednesday that topped earnings estimates but fell slightly short on revenue. IBM stock climbed on the news.
The company reported adjusted earnings of $1.36 a share on revenue of $14.3 billion. Analysts expected IBM to report adjusted earnings of $1.26 a share on revenue of $14.35 billion.
IBM stock jumped 3.4% to 130.55 during after-hours trading on the stock market today.
After years of a massive restructuring, IBM remains a leading provider of information technology consulting, mainframes and software applications. But the company has has shifted to include artificial intelligence, data analytics and cloud computing services.
More to follow.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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Source: https://www.investors.com/news/technology/ibm-stock-climbs-on-first-quarter-earnings-report/?src=A00220&yptr=yahoo