International Business Machines Corp. (IBM) reported quarterly earnings results on Monday, Jul-18-2016. The company said it had a profit of $2.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $2.89. The company posted revenue of $20238.00 million in the period, compared to analysts expectations of $20063.32 million. The company’s revenue was down -2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS.
Many Wall Street Analysts have commented on International Business Machines Corp.. Company shares were Reiterated by Barclays on Jul 15, 2016 to “Underweight”, Firm has raised the Price Target to $ 140 from a previous price target of $125 .
International Business Machines Corp. closed down -0.5 points or -0.31% at $159.78 with 44,76,810 shares getting traded on Friday. Post opening the session at $159.9, the shares hit an intraday low of $158.5 and an intraday high of $159.98 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 9, 2016, Diane J Gherson (Senior Vice President) sold 2,986 shares at $147.00 per share price. According to the SEC, on May 6, 2016, Robert J Picciano (Senior Vice President) sold 3,090 shares at $146.49 per share price. On Apr 21, 2016, Leo Allen Bruno V Di (Senior Vice President) sold 3,900 shares at $146.83 per share price, according to the Form-4 filing with the securities and exchange commission.
International Business Machines Corporation is a technology company. The Company operates in five business segments: Global Technology Services (GTS) which includes Strategic Outsourcing Integrated Technology Services Cloud and Technology Support Services and also provides information technology (IT) infrastructure and business process services; Global Business Services (GBS) which offers its services across Consulting and Systems Integration Global Process Services and Application Management Services; Software which consists of middleware and operating systems software; Systems and Technology (STG) which provides infrastructure technologies and Global Financing which provides financing solutions for products or services that are critical to the end users’ business operations. Its IBM Watson Health Cloud platform collects clinical research and social data from a range of health sources and creates a cloud-based data sharing hub.