IBM Posts Higher 3Q Revenue; EPS Misses Wall Street Targets -- Earnings Review
October 20 2021 - 4:49PM
Dow Jones News
By Maria Armental
International Business Machines Corp. reported higher revenue
for the September quarter, ahead of the planned separation of tech
services business Kyndryl. Here's what you need to know:
PROFIT: Net income fell to $1.13 billion from $1.7 billion a
share a year earlier. On a per-share basis, profit was $1.25, or
$2.52 as adjusted. IBM said it recorded about 56 cents a share in
costs tied to the planned separation.
Analysts surveyed by FactSet expected $1.95 a share, or $2.52 a
share as adjusted.
REVENUE: Total revenue rose to $17.62 billion from $17.56
billion a year earlier. Analysts expected $17.79 billion.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
October 20, 2021 16:34 ET (20:34 GMT)
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