ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported first-quarter earnings of $1.61 billion.
The Armonk, New York-based company said it had profit of $1.72 per share. Earnings, adjusted for one-time gains and costs, came to $1.68 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The technology and consulting company posted revenue of $14.46 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $14.57 billion.
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