ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported a loss of $330 million in its third quarter.
The Armonk, New York-based company said it had a loss of 36 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $2.30 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The technology and consulting company posted revenue of $14.97 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $15.19 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM
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