Earnings Update: IBM (NYSE: IBM)
IBM reported Q1 earnings per share of $2.9, which was above the FactSet estimate for $2.82.
Revenues for the quarter were reported at $19.59 billion, which was below the estimate of $19.72 billion.
“In Q1 we had a strong start to the year. Our strategic imperatives growth rate accelerated, demonstrating the power of our offerings in these new opportunities and contributing to improved revenue performance. Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion,” said Ginni Rometty, IBM chairman, president and CEO.
Shares of IBM last traded at $166.51, which is above the last closing price of $166.16.
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