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IBM Trades Higher On Q4 Earnings Beat

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IBM Trades Higher On Q4 Earnings Beat

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.

Related Link: IBM, Walmart, Merck Included In FDA Program To Test Blockchain Usage In US Drug Supply Chain

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.

 

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