Company News: IBM (IBM) quarterly earnings beat analysts’ forecast

Market news

22 January 2021

Company News: IBM (IBM) quarterly earnings beat analysts’ forecast

IBM (IBM) reported Q4 FY 2020 earnings of $2.07 per share (versus $4.71 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.88 per share.

The company’s quarterly revenues amounted to $20.367 bln (-6.5% y/y), missing analysts’ consensus estimate of $20.630 bln.

The company also said it expects to grow revenue in FY 2021 after a 4.6% y/y decline in FY 2020.

IBM fell to $121.69 (-7.57%) in pre-market trading.

USD/CNH still eyes a move to 6.5200 - UOB

USD/CAD to resume the bear trend on a sustained move beneath 1.2620 - Credit Suisse

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