Company News: IBM (IBM) reports worse-than-expected quarterly revenues

Market news

19 April 2017

Company News: IBM (IBM) reports worse-than-expected quarterly revenues

IBM (IBM) reported Q1 FY 2017 earnings of $2.38 per share (versus $2.35 in Q1 FY 2016), beating analysts' consensus estimate of $2.35.

The company's quarterly revenues amounted to $18.155 bln (-2.8% y/y), slightly missing analysts' consensus estimate of $18.371 bln.

The company reaffirmed guidance for FY 2017, projecting EPS of at least $13.80 versus analysts' consensus estimate of $13.78.

IBM fell to 161.52 (-5.02%) in pre-market trading.

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