IBM (NYSE:IBM) reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $3.42 on revenue of $18.76B. Analysts polled by anticipated EPS of $3.39 on revenue of $19.1B. That compared to EPS of $3.3 on revenue of $19.15B in the same period a year earlier The company had reported EPS of $3.08 on revenue of $20B in the previous quarter.
IBM shares gained 3.64% to trade at $140.00 in after-hours trade following the report.
For the year, IBM shares are down 6.09%, under-performing the Dow 30 which is up 3.99% year to date.
IBM follows other major Technology sector earnings this month
On September 17, Oracle (NYSE:ORCL) reported first quarter EPS of $0.71 on revenue of $9.2B, compared to forecasts of EPS of $0.68 on revenue of $9.25B.
Accenture earnings beat analyst's expectations on September 27, with fourth quarter EPS of $1.58 on revenue of $10.15B. analysts expected EPS of $1.56 on revenue of $10.01B
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