Investing.com - IBM (NYSE:IBM) reported third quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $2.68 on revenue of $18.03B. Analysts polled by Investing.com forecast EPS of $2.67 on revenue of $18.23B. That compared to EPS of $3.42 on revenue of $18.76B in the same period a year earlier. The company had reported EPS of $3.17 on revenue of $19.16B in the previous quarter.
IBM shares lost 2.53% to trade at $138.45 in after-hours trade following the report.
For the year, IBM shares are up 24.96%, outperforming the S&P Global (NYSE:SPGI) 100 which is up 16.61% year to date.
IBM follows other major Technology sector earnings this month
On Thursday, October 10, 2019, SAP ADR reported third quarter EPS of $1.43 on revenue of $7.52B, compared to forecasts of EPS of $1.32 on revenue of $7.47B.
Adobe earnings beat analyst's expectations on Tuesday, September 17, 2019, with third quarter EPS of $2.05 on revenue of $2.83B. Investing.com analysts expected EPS of $1.97 on revenue of $2.82B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar