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Earnings Update: IBM Beats on EPS, Misses Revenue Estimates

IBM

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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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About the Author

David Moenning is the Chief Investment Officer at Sowell Management Services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 29 years.