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IBM: Q1 Earnings Snapshot

Associated Press Finance
·1-min read

ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported first-quarter earnings of $1.61 billion.

The Armonk, New York-based company said it had profit of $1.72 per share. Earnings, adjusted for one-time gains and costs, came to $1.68 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.

The technology and consulting company posted revenue of $14.46 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $14.57 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM