IBM Earnings: 7 Things to Know About Q2 2018

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IBM (NYSE:IBM) released its latest quarterly earnings results after the bell on Wednesday, posting an earnings and revenue beat to help drive shares slightly up after the bell.

Here are seven things you should know about IBM earnings for the company’s second quarter of fiscal 2018:

  • The tech giant brought in adjusted earnings of $3.08 per share, topping the Wall Street consensus estimate of $3.04 per share, according to data compiled by Thomson Reuters.
  • IBM amassed revenue of $20 billion for its second quarter, rising 4% year-over-year and beating out the $19.85 billion that analysts were calling for, per Thomson Reuters.
  • The results mark the company’s third consecutive quarter of revenue growth after a rough five-year period that saw year-over-year revenue declines every quarter.
  • IBM had a gross margin of 46.5%, just below the 47% that analysts polled by FactSet called for.
  • The company’s Technology Services and Cloud Platforms is its biggest business segment and it was in line with the FactSet guidance of $8.62 billion in revenue.
  • IBM’s Cognitive Solutions team raked in $4.58 billion in revenue, also missing the Wall Street forecast of $4.76 billion, per FactSet.
  • Its Global Business Services segment’s revenue totaled $4.19 billion, slightly ahead of the FactSet projection of $4.16 billion.

IBM stock was up about 0.7% during regular trading hours Wednesday as the company geared up to release its latest quarterly results. Shares were up a nudge above 1% after hours following its results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/ibm-earnings-3/.

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