IBM beats targets but sees revenues decline for 22nd quarter in a row

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.

Get the latest IBM stock price here.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at