Investing.com - IBM (NYSE:IBM) reported first quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $2.25 on revenue of $18.18B. Analysts polled by Investing.com expected EPS of $2.22 on revenue of $18.52B. That compared to EPS of $2.45 on revenue of $19.07B in the same period a year earlier. The company had reported EPS of $4.87 on revenue of $21.76B in the previous quarter.
IBM shares lost 3.52% to trade at $140.00 in after-hours trade following the report.
IBM shares lost 3.52% to trade at $140.00 in after-hours trade following the report.
For the year, IBM shares are up 27.66%, outperforming the Dow 30 which is up 14.72% year to date.
IBM follows other major Technology sector earnings this month
On Thursday, March 28, 2019, Accenture reported second quarter EPS of $1.73 on revenue of $10.45B, compared to forecasts of EPS of $1.57 on revenue of $10.45B.
Micron earnings beat analyst's expectations on Wednesday, March 20, 2019, with second quarter EPS of $1.71 on revenue of $5.84B. Investing.com analysts expected EPS of $1.6 on revenue of $5.8B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar