IBM (NYSE:IBM) earnings for the tech company’s fourth quarter of 2019 have IBM stock heading higher in after-hours trading on Thursday. This is thanks to its adjusted earnings per share of $4.71 and revenue of $21.80 billion. These are both better than Wall Street’s estimates of $4.68 cents and revenue of $21.64 billion.
Here are some additional highlights from the most recent IBM earnings report.
- Adjusted per-share earnings are down 3.29% from $4.87 during the same time last year.
- Revenue for the quarter is only slightly higher than it was in the fourth quarter of 2018.
- The gross profit margin for the quarter is sitting at 51%, which is better than 49.10% from the same period of the year prior.
- The IBM earnings report also includes a net income of $3.67 billion.
- That’s an 88.21% increase over its net income of $1.95 billion from Q4 2018.
Ginni Rometty, Chairman, President and CEO of IBM, says this about the IBM stock earnings.
“We ended 2019 on a strong note, returning to overall revenue growth in the quarter, led by accelerated cloud performance. Looking ahead, this positions us for sustained revenue growth in 2020 as we continue to help our clients shift their mission-critical workloads to the hybrid cloud and scale their efforts to become a cognitive enterprise.”
The IBM earnings report also includes an outlook for 2020. That includes expectations for adjusted EPS of at least $13.35. That would be a win for IBM stock compared to Wall Street’s estimate of $13.29 for the year.
IBM stock was up 4.20% in after-hours trading on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.