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IBM (NYSE:IBM) shares are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results. The company also issued fiscal year 2020 EPS guidance above analyst estimates.
IBM reported adjusted quarterly earnings of $4.71 per share, which beat the analyst consensus estimate of $4.68. This is a 3.29% decrease over earnings of $4.87 per share from the same period last year.
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The company reported quarterly sales of $21.8 billion, which beat the analyst consensus estimate of $21.64 billion. This is a 0.18% increase over sales of $21.76 billion the same period last year.
IBM sees adjusted 2020 earnings of $13.35 per share, which is ahead of the $13.29 estimate.
IBM shares were trading higher by 4.4% at $145.25 in Tuesday's after-hours session.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.