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International Business Machines Corporation Down 4.79% To $134.53 After Earnings Meet

Thursday, January 26, 2023 12:26 PM | InvestorsObserver Analysts

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International Business Machines Corporation Down 4.79% To $134.53 After Earnings Meet

International Business Machines Corporation (IBM) said after close Wednesday that it earned $3.6 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $16.7 billion, beating estimates by $290 million.

In the same quarter a year ago, the company earned $3.35 per share on revenue of $16.7 billion.

The stock is down 4.79% to $134.53 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

International Business Machines Corporation has performed a little above average during the past few months. Before the report, International Business Machines Corporation received a Long-Term Technical Rank by InvestorsObserver of 72, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $153.21 on December 13, 2022 and set a 52-week low on October 13, 2022 at $115.55.

IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients--which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.

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