24.04.2024 22:12:05 - dpa-AFX: International Business Machines Corp. Q1 Profit Increases, beats estimates
ARMONK (dpa-AFX) - International Business Machines Corp. (IBM) announced a
profit for its first quarter that increased from last year and beat the Street
estimates.
The company's bottom line totaled $1.61 billion, or $1.72 per share. This
compares with $927 million, or $1.01 per share, in last year's first quarter.
Excluding items, International Business Machines Corp. reported adjusted
earnings of $1.56 billion or $1.68 per share for the period.
Analysts on average had expected the company to earn $1.60 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.
The company's revenue for the quarter rose 1.5% to $14.46 billion from $14.25
billion last year.
International Business Machines Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $1.61 Bln. vs. $927 Mln. last year.
-EPS (Q1): $1.72 vs. $1.01 last year.
-Revenue (Q1): $14.46 Bln vs. $14.25 Bln last year.
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