IBM (NYSE:IBM) had a disappointing quarterly reports as the company’s guidance missed the mark, despite posting earnings and revenue beats.
Source: IBM
Here are eight things to know about it:
- The company posted first-quarter adjusted earnings of $2.45 per share, three cents above analysts’ expectations, according to Thomson Reuters.
- IBM’s revenue tallied up to $19.1 billion, coming in ahead of the Wall Street consensus estimate of $18.84 billion, per Thomson Reuters.
- The company hadn’t experienced revenue growth in more than five years until the previous quarter. Revenue grew again this quarter.
- IBM’s technology services and cloud platforms, its largest business segment, generated $8.63 billion in revenue, topping the FactSet projection of $8.28 billion, per StreetAccount.
- The company hopes that it will continue growing through its strategic imperatives, including social, mobile, analytics and cloud. This group amounted to 49% of all revenue during the company’s fourth quarter.
- Growth in the aforementioned category came in at 15% compared to the year-ago quarter.
- The tech giant’s guidance underwhelmed as it projects adjusted earnings of $13.80 per share for fiscal 2018, below the FactSet estimate of $13.83 per share, according to Thomson Reuters.
- For its second quarter, analysts predicts that IBM will earn $3.05 per share on an adjusted basis, while revenue will tally up to $19.9 billion in revenue, according to data compiled by Thomson Reuters.
IBM stock fell more than 5.4% after the bell late Tuesday.
