ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported first-quarter earnings of $1.06 billion.
On a per-share basis, the Armonk, New York-based company said it had net income of $1.12. Earnings, adjusted for one-time gains and costs, came to $1.60 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The technology and consulting company posted revenue of $14.54 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $14.45 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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