IT Services
By Abigail Townsend
Date: Wednesday 23 Jan 2019
LONDON (ShareCast) - (Sharecast News) - Shares in IBM jumped in pre-market trading on Wednesday after the US firm beat quarterly earnings estimates.
The firm, which is refocusing away from traditional hardware products towards faster-growing, higher-margin segments like cloud services, said full-year revenues were ahead 1% at $79.6bn or flat allowing for currency fluctuations. Adjusted earnings per share were 1% higher at $13.81.
Chief executive Ginni Rometty, who took over the top job in 2012, said: "In 2018 we returned to full-year revenue growth, reflecting growing demand for our services and leadership solutions in hybrid cloud, AI, analytics and security."
Fourth-quarter revenues dropped 3% to $21.76bn, or 1% allowing for currency fluctuations, though they still managed to narrowly beat expectations. Adjusted earnings per share were $4.87, down 5% year-on-year but around 3 cents higher than most analyst forecasts.
IBM, which last year agreed to acquire US software firm Red Hat for a record $34bn, also struck a cautiously upbeat tone for the current year. It has forecast full-year adjusted earnings per share of $13.90 and free cash flow of around $12bn.
Shares in IBM gained 6% in pre-market trading and were expected to continue improving after the bell.
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Currency | US Dollars |
Share Price | $ 118.95 |
Change Today | $ 0.00 |
% Change | 0.00 % |
52 Week High | $169.16 |
52 Week Low | $118.95 |
Volume | 3,758 |
Shares Issued | 912.77m |
Market Cap | $108,574m |
Value |
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Price Trend |
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Income |
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Growth |
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Strong Buy | 4 |
Buy | 2 |
Neutral | 10 |
Sell | 2 |
Strong Sell | 1 |
Total | 19 |
Latest | Previous | |
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Q4 | Q3 | |
Ex-Div | 08-Feb-24 | 09-Nov-23 |
Paid | 09-Mar-24 | 09-Dec-23 |
Amount | 166.00¢ | 166.00¢ |
Time | Volume / Share Price |
19:13 | 11 @ $167.98 |
19:12 | 15 @ $168.13 |
19:12 | 1 @ $168.07 |
19:10 | 0 @ $168.05 |
19:09 | 0 @ $168.12 |
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