Earnings Results: IBM stock slips as earnings, cloud revenue beat Street view [MarketWatch]
International Business Machines Corporation (IBM)
Last international business machines corporation earnings: 4/20 04:08 pm
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Source: MarketWatch
IBM stock slips as earnings, cloud revenue beat Street view International Business Machines Corp. shares gave back gains in the extended session Wednesday and slipped to a loss after the tech giant topped Wall Street earnings estimates for the second quarter. IBM IBM, -0.32% reported second-quarter net income of $2.5 billion, or $2.81 a share, compared with $2.4 billion, or $2.61 a share, in the year-ago period. Adjusted earnings were $3.17 a share. Revenue continued to fall year-over-year, declining to $19.16 billion from $20 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.08 a share on revenue of $19.17 billion. “In the second quarter, we continued to grow in the high-value areas of the business, led by a strong performance across our cloud and cognitive software segment,” IBM Chief Executive Ginni Rometty said in a statement. Cloud and cognitive services revenue rose to $5.65 billion from $5.47 billion in the year-ago period, while analy
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