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IBM, Coming Off Record Year Of Innovation, Beats Q4 Estimates

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IBM, Coming Off Record Year Of Innovation, Beats Q4 Estimates
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International Business Machines Corp. (NYSE: IBM), coming off a record year of innovation, reported fourth quarter earnings on Thursday.

  • IBM reports Q4 EPS $5.01, beats by $0.13.
  • Revenues $21.8 billion, misses by $160 million.
  • IBM expects FY 2017 adjusted EPS of at least $13.80 vs $13.74 estimate.
  • Cloud Revenue came in at $13.7 billion for full-year 2016, up 35 percent.
  • IBM has not missed a dividend payment since 1916, and has doubled its dividend since 2010.

"In 2016, our strategic imperatives grew to represent more than 40 percent of our total revenue and we have established ourselves as the industry's leading cognitive solutions and cloud platform company," said Ginni Rometty, IBM chairman, president and CEO. "IBM Watson is the world's leading AI platform for business, and emerging solutions such as IBM Blockchain are enabling new levels of trust in transactions of every kind. More and more clients are choosing the IBM Cloud because of its differentiated capabilities, which are helping to transform industries, such as financial services, airlines and retail."

After popping more than 3 percent in the after-hours session, shares traded recently at $162.94, down 2.3 percent.

Posted-In: Earnings News After-Hours Center Movers Tech

 

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