Investing.com - IBM (NYSE:IBM) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
IBM announced earnings per share of $1.84 on revenue of $17.57B. Analysts polled by Investing.com anticipated EPS of $1.78 on revenue of $17.63B. That with comparison to EPS of $2.25 on revenue of $18.18B in the same period a year before.IBM had reported EPS of $4.71 on revenue of $21.78B in the previous quarter.Analysts are expecting EPS of $2.56 and revenue of $18.21B in the upcoming quarter.
IBM shares are down 10% from the beginning of the year and are trading at $120.00 , down-from-52-week-high.They are outperforming the Dow 30 which is down 17.42% year to date.
IBM shares lost 0.48% in after-hours trade the report.
IBM follows other major Technology sector earnings this month
IBM's report follows an earnings matched by Taiwan Semiconductor on Thursday, who reported EPS of $0.75 on revenue of $10.32B, compared to forecasts EPS of $0.75 on revenue of $10.32B.
Micron had beat expectations on Wednesday, March 25, 2020 with second quarter EPS of $0.45 on revenue of $4.8B, compared to forecast for EPS of $0.37 on revenue of $4.69B.
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