Some of the top companies are scheduled to report earnings today, and International Business Machines Corporation (NYSE: IBM) is one of them. The tech firm’s stock traded slightly higher in the afternoon, ahead of the announcement.
IBM will be reporting results for the second quarter of 2023 at 4:10 ET today. Analysts’ consensus estimate is for adjusted earnings of $2.01 per share, compared to $2.31 per share in the year-ago quarter. At $15.57 billion, the top-line forecast is broadly in line with the revenue reported for Q2 2022.
For the first quarter of 2023, IBM reported a 3% decline in adjusted net income to $1.36 per share. Revenues, meanwhile, remained unchanged at $14.3 billion in the March quarter. Growth in the main Software and Consulting businesses was offset by weakness in the infrastructure segment.
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