IBM down more than 5% despite delivering a beat in quarterly earnings

IBM shares fell more than 5% on Tuesday after the company announced its first quarter 2018 earnings.

IBM actually beat analyst expectations on both revenue and earnings per share for the quarter, but Wall Street didn’t take lightly to its $US0.04 miss on expectations for full-year 2018 earnings per share.

Here’s what the company reported:

  • Revenue for the quarter (GAAP) was $US19.07 billion, up 5% from the year before, though up 0% when adjusted for currency changes. This is compared to analyst expectations of $US18.82 billion.
  • Q1 EPS (non-GAAP) were $US2.45, up 4% from the year before. This is compared to analyst expectations of $US2.41.
  • Estimated EPS for 2018 (non-GAAP) is $US13.80, which missed analyst expectations of $US13.84.
  • Estimated free cash flow for 2018 is $US12 billion..

This story is developing. Refresh for updated information.

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