Why IBM Stock Popped After Earnings
Shares of tech legend International Business Machines (NYSE: IBM) rose a respectable 2.9% through 12:05 p.m. ET after the company reported mixed earnings for its fiscal second quarter 2023.
Analysts had forecast IBM would earn only $2.01 per share in "adjusted" profits for the quarter, and IBM beat that guess with a stick, earning $2.18 per share. Sales that were supposed to approach $15.6 billion, however, fell just short of that mark, coming in at $15.5 billion instead.
Wall Street didn't mind the revenue miss, however, with The Fly reporting that three separate analysts (Bank of America, BMO Capital, and Stifel) all hiked their price targets on the stock after earnings. Investors don't seem to mind much, either.
Source Fool.com
International Business Machines Corp Aktie
201,90 €
2,77 %
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