Tuesday June 2, 2020

IBM rises after sales beat estimates on software unit gains

Shares in the company rose by moe than 3% in late US trading

19th July, 2016
IBM shares rose by more than three per cent in late trading Pic: RexFeatures

Sales were $20.2 billion, compared with the average analyst estimate of $20.1 billion, according to data compiled by Bloomberg.

Adjusted earnings, excluding some items, was $2.95 a share, beating the $2.89 average estimate of 19 analysts.

The shares rose 3.2 per cent in late trading to $165. They are up 16 per cent this year through the end of Monday, compared with a six per cent gain on the Standard & Poor’s 500 Index.

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