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International Business Machines Corporation (IBM) - free report >>
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IBM Posts Q1 Earnings Beat, Revenue Growth
IBM (IBM - Free Report) just released its first quarter financial results, posting adjusted earnings of $2.45 per share and revenues of $19.07 billion.
IBM is currently a Zacks Rank #3 (Hold). Shares of IBM had been down 7.7% over the last year and roughly 2.9% over the last 12 weeks. However, shares of IBM had climbed 1.91% on Tuesday prior to the release of its first quarter earnings results.
IBM stock is currently down roughly 5.5% to $152 per share in after-hours trading shortly after its earnings report was released.
IBM:
Beat earnings estimates. The company posted adjusted earnings of $2.45 per share, beating the Zacks Consensus Estimate of $2.40 per share.
Beat revenue estimates. The company saw revenue figures of $19.07 billion, topping our consensus estimate of $18.72 billion.
IBM revenues jumped from $18.16 billion in the year-ago period. The first quarter also marked the second consecutive quarter of revenue growth after roughly six years of declining sales. Meanwhile, IBM’s adjusted Q1 earnings rose slightly year over year from $2.38 per share.
Looking forward, IBM reaffirmed its full-year adjusted earnings outlook of at least $13.80 per share, which is relatively in line with our current estimates of $13.83 per share.
Here’s a graph that looks at IBM’s Price, Consensus and EPS Surprise history:
International Business Machines Corporation Price, Consensus and EPS Surprise
International Business Machines Corporation Price, Consensus and EPS Surprise | International Business Machines Corporation Quote
Check back later for our full analysis on IBM’s earnings report!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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