IBM (IBM) Stock Falls Over 4% as Third Quarter Revenues Miss Street
Tweet
Share
E-mail
Get Alerts IBM Hot Sheet
Revenue Growth %: +3.0%
Financial Fact:
Cash dividend per common share (in dollars per share): 1.4
Today's EPS Names:
VIVO, OCCI, PMCB, More
Join SI Premium – FREE
IBM (NYSE: IBM) shares were trading more than 4% lower after-hours following the company’s Q3 report, with EPS coming in at $2.52, better than the Street estimate of $2.50.
Quarterly revenue of $17.6 billion, which was lower than the consensus estimate of $17.77 billion, was driven by Consulting and Software.
According to Arvind Krishna, Chairman and CEO of IBM, the company takes the next step in its evolution as a platform-centric hybrid cloud and AI company, with the separation of Kyndryl early next month.
Adjusted free cash flow in the quarter was $1.2 billion. The company returned $1.5 billion to shareholders in dividends.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM unit Anderon secures $1B CHIPS Act award for quantum foundry
- Kestra Medical Technologies, Ltd. (KMTS) Reports Q1 Loss of $0.75/sh
- Boeing: wings production is a constraint to ramp up
Create E-mail Alert Related Categories
Earnings, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
