International Business Machine (IBM - Free Report) just released its third quarter fiscal 2016 earnings results, posting non-GAAP earnings of $3.29 and revenue of $19.2 billion. Currently, IBM is a Zacks Rank #4 (Sell), and is down 3.71% to $149.03 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted non-GAAP earnings of $3.29, beating the Zacks Consensus Estimate of $3.21 per share. This number excludes 31 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $19.2 billion, surpassing our consensus estimate of $19.011 billion but declining 0.4% year-over-year.
Cloud revenues increased 44% year-over-year to $12.7 billion. The annual run rate for cloud as-a-Service revenue—a subset of total cloud revenue—increased to $7.5 billion from $4.5 billion in the third quarter of 2015.
IBM continues to expect operating (non-GAAP) diluted earnings per share of at least $13.50 for full-year 2016.
Chairman, president and CEO Ginni Rometty: "IBM's third-quarter performance, led by continued double-digit growth in our strategic imperatives, is a testament to our leadership in cognitive solutions and cloud. Our ability to apply deep expertise and breakthrough technology, led by Watson and the IBM Cloud, to massive amounts of data is enabling us to build new markets and transform industries.
Here’s a graph that looks at IBM’s price, consensus, and EPS surprise:
IBM is an information technology (IT) company. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. IBM is headquartered in Armonk, New York.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
International Business Machine (IBM - Free Report) just released its third quarter fiscal 2016 earnings results, posting non-GAAP earnings of $3.29 and revenue of $19.2 billion. Currently, IBM is a Zacks Rank #4 (Sell), and is down 3.71% to $149.03 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted non-GAAP earnings of $3.29, beating the Zacks Consensus Estimate of $3.21 per share. This number excludes 31 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $19.2 billion, surpassing our consensus estimate of $19.011 billion but declining 0.4% year-over-year.
Cloud revenues increased 44% year-over-year to $12.7 billion. The annual run rate for cloud as-a-Service revenue—a subset of total cloud revenue—increased to $7.5 billion from $4.5 billion in the third quarter of 2015.
IBM continues to expect operating (non-GAAP) diluted earnings per share of at least $13.50 for full-year 2016.
Chairman, president and CEO Ginni Rometty: "IBM's third-quarter performance, led by continued double-digit growth in our strategic imperatives, is a testament to our leadership in cognitive solutions and cloud. Our ability to apply deep expertise and breakthrough technology, led by Watson and the IBM Cloud, to massive amounts of data is enabling us to build new markets and transform industries.
Here’s a graph that looks at IBM’s price, consensus, and EPS surprise:
IBM is an information technology (IT) company. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. IBM is headquartered in Armonk, New York.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on IBM - FREE