Why IBM Stock Is Falling Today
International Business Machines (NYSE: IBM) stock is losing ground Thursday on the heels of the company's recent third-quarter report. Big Blue's share price was down 6.6% as of 1:45 p.m. ET.
After the market closed yesterday, IBM published third-quarter earnings results. While the company's profit for the period came in ahead of Wall Street's target, sales arrived below expectations.
IBM reported non-GAAP (adjusted) earnings per share of $2.30 on revenue of $14.97 billion in Q3. Meanwhile, the average analyst estimate had called for an adjusted profit of $2.23 per share on sales of roughly $15.1 billion. Revenue was up roughly 1.5% year over in the period, with 10% growth for the software segment revenue being partially offset by a 7% decline for infrastructure revenue. Sales for the consulting segment were essentially flat in the period.
Source Fool.com
International Business Machines Corp Stock
The stock is one of the favorites of our community with 45 Buy predictions and 3 Sell predictions.
With a target price of 271 € there is a positive potential of 40.98% for International Business Machines Corp compared to the current price of 192.22 €.
