IBM beat Wall Street expectations in its third-quarter financial results on Tuesday, sending its stock up about 3% in after-hours trading.
Even so, IBM failed to put an end to its 22-quarter revenue decline.
Here’s what the company reported:
- Revenues (GAAP) were at $US19.15 billion, down from $US19.23 billion in the year ago period, but above analyst estimates of $US18.59 billion.
- Earnings per share (non-GAAP) were at $US3.30, compared to analyst estimates of $US3.28.
- Projected earnings for fiscal 2017 (non-GAAP) are $US13.80, compared to analyst estimates of $US13.75.
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