International Business Machines Corp. (IBM) announced its most recent quarterly financial results on Monday, Oct-17-2016. IBM said it had a profit of $3.29 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 $3.23. The company posted revenue of $19226.00 million in the period, compared to analysts expectations of $19011.02 million. IBM’s revenue was down -.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.34 EPS.
Many Wall Street Analysts have commented on International Business Machines Corp.. International Business Machines Corp. was Upgraded by Societe Generale to ” Hold” on Sep 26, 2016. International Business Machines Corp. was Downgraded by Standpoint Research to ” Hold” on Jul 25, 2016.
International Business Machines Corp. opened for trading at $154.47 and hit $155.53 on the upside on Friday, eventually ending the session at $154.45, with a gain of 0.47% or 0.73 points. The heightened volatility saw the trading volume jump to 43,58,197 shares. Company has a market cap of $147,630 M.
In a different news, on Sep 1, 2016, Robert J Picciano (Senior Vice President) sold 1,922 shares at $159.15 per share price. According to the SEC, on Aug 24, 2016, Martin Jetter (Senior Vice President) sold 3,788 shares at $160.47 per share price. On Aug 24, 2016, Erich Clementi (Senior Vice President) sold 6,000 shares at $160.28 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.