After-Hours Alert: Why IBM Stock Is Moving
International Business Machines Corp IBM shares are volatile in Wednesday's after-hours session after the company reported financial results.
What Happened: IBM reportedfourth-quarter revenue of $16.69 billion, which beat average analyst estimates of $16.4 billion,according toBenzinga Pro.The company said itstop-line results were flat on a year-over-year basis.
IBM reported fourth-quarter adjusted earnings of $3.60 per share, which was in line with consensus estimates.
"Our solidfourth-quarterperformance capped a year in which we grew revenue above our mid-single digit model. Clients in all geographies increasingly embraced our hybrid cloud and AI solutions as technology remains a differentiating force in today's business environment," saidArvind Krishna,chairman and CEO of IBM.
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