IBM Rises on Q4 Results
IBM released its fiscal fourth-quarter earnings results after the closing bell. The stock was last trading up a little better than 3 percent in the after hours to $202.50.
The company reported net income for the period of $5.8 billion or $5.13 per share, compared to $5.5 billion or $4.62 per share, in the year ago quarter.
On an adjusted basis, the company reported earnings of $6.1 billion or $5.39 per share, compared to $5.6 billion or $4.71 per share, in last year's fourth quarter.
This came in ahead of Wall Street analysts' consensus EPS estimates of $5.25.
Revenue in the period was down 0.6 percent to $29.30 billion from $29.49 billion last year. This also was above consensus estimates of $29.09 billion.
IBM said that it expects full-year 2013 earnings per share of at least $15.53 and operating earnings of at least $16.70 per share. Currently, analysts have consensus earnings per share estimtes of $16.63 for the full-year.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.