Earnings: IBM Q3 profit beats estimates; revenue up 6%

International Business Machines Corporation (NYSE: IBM) said its third-quarter 2022 revenues increased by 6%. The results also surpassed experts’ predictions. Reflecting strong performance of the key business segments, the company’s total revenues increased 6% year-over-year to $14.1 billion in the third quarter. The latest number also exceeded the consensus forecast. Third-quarter adjusted earnings from continuing […]

October 19, 2022 1 min read

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International Business Machines Corporation (NYSE: IBM) said its third-quarter 2022 revenues increased by 6%. The results also surpassed experts’ predictions. Reflecting strong performance of the key business segments, the company’s total revenues increased 6% year-over-year to $14.1 billion in the third quarter. The latest number also exceeded the consensus forecast. Third-quarter adjusted earnings from continuing […]
· October 19, 2022

International Business Machines Corporation (NYSE: IBM) said its third-quarter 2022 revenues increased by 6%. The results also surpassed experts’ predictions.

Reflecting strong performance of the key business segments, the company’s total revenues increased 6% year-over-year to $14.1 billion in the third quarter. The latest number also exceeded the consensus forecast.

Third-quarter adjusted earnings from continuing operations dropped 2% annually to $1.81 per share but topped the estimates. On an unadjusted basis, it was a net loss of $3.21 billion or $3.55 per share, compared to a profit of $1.04 billion or $1.14 per share last year.

Check this space to read management/analysts’ comments on IBM’s Q3 2022 earnings

Shares of IBM closed Wednesday’s trading lower but made strong gains in the after-hours soon after the earnings release. In the past six months, the stock lost around 11%.