After
After the closing bell on Jan 21, Worldwide Enterprise Machines IBM reported stellar fourth-quarter 2019 outcomes. The corporate registered shock progress in quarterly revenues and beat the estimates on each earnings and revenues.
Earnings per share got here in at $4.71, surpassing the Zacks Consensus Estimate by couple of cents however declined 3% from the year-ago quarter. Revenues inched up 0.1% 12 months over 12 months to $21.eight billion, marking the primary income progress after 5 quarters of decline. It additionally topped the consensus estimate of $21.69 billion. The high-margin cloud computing enterprise led IBM to return to income progress. Notably, revenues from cloud enterprise rose 21% to $6.eight billion within the fourth quarter, its largest up to now (learn: 5 Low-Cost Tech ETFs for Investors).
For 2020, the world’s largest computer-services supplier is positioned for sustained income progress and expects earnings per share of “a minimum of $13.35,” excluding sure objects.
Shares of IBM jumped greater than 4% in after-market hours. The inventory has a Zacks Rank #3 (Maintain) and boasts a prime Worth Rating of A. Nevertheless, it belongs to a bottom-ranked Zacks business (bottom 31%).
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