IBM earnings: IBM shares down 3% on mixed Q1 earnings

<p>IBM (NYSE: IBM) earnings for the first quarter of 2020 have IBM shares down after hours Monday. This follows the reported adjusted earnings per share (EPS) of $ 1.84, which is above the Wall Street estimate of $ 1.79. However, the technology company’s revenue of $ 17.57 billion is lower than analysts’ estimates of $ 17.62 billion.

Source: Laborant /

Here are some additional details from the latest IBM revenue report.

Adjusted earnings per share decreased by 18.22% compared to USD 2.25 during the first quarter of 2019. Revenue was 3.36% lower than USD 18.18 billion reported during the same period last year. Operating profit of $ 1.18 billion is a decrease of 25.79% compared to the same period last year from $ 1.59 billion. IBM’s revenue report also includes a net profit of $ 1.18 billion. It has also decreased 25.79% from the company’s net profit of $ 1.59 billion from the same time last year.

Arvind Krishna, CEO of the company, said this about IBM’s share income report:

“Our first quarter results in cloud are a reflection of the confidence that customers have in IBM’s technology and expertise today and position us to continue building a lasting hybrid cloud platform for the future.”

IBM executives will review the company’s performance report in a conference call today. That call begins at 5:00 p.m. Eastern Time. It will be available on the company’s Investor Relations website via a webcast.

IBM shares fell 3.07% after the markets closed on Monday, but increased slightly when the markets closed.

At the time of writing, William White had no position in any of the above securities.

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