IBM beat Wall Street expectations for Q1, according to Benzinga. The tech company posted earnings of $1.60 per share versus the $1.40 estimate and revenue of $14.54 billion, topping the $14.4 billion forecast. Software led growth, climbing 7% to $6.3 billion, with strong gains in Hybrid Cloud and Automation. Consulting revenue fell 2%, while Infrastructure dropped 6%. Financing dipped 1%. The company sees second-quarter revenue from $16.4 billion to $16.75 billion, versus the $16.33 billion estimate. IBM stock was down 5.45% after-hours on Wednesday.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02IBM beat Wall Street expectations for Q1, according to Benzinga.
00:06Ten company posted earnings of $1.60 per share versus the $1.40 estimate.
00:10Revenue of $14.54 billion, topping the $14.4 billion forecast.
00:14Software-led growth climbing 7% to $6.3 billion, with strong gains in hybrid cloud and automation.
00:20Consulting revenue fell 2%, wealth structure dropped 6%.
00:23Financing dipped 1%.
00:25The company sees second quarter revenue in the range of $16.4 billion, $16.75 billion versus the $16.33 billion estimate.
00:32IBM's stock was down 5.45% after hours on Wednesday.
00:36For all things money, visit Benzinga.com slash GSTV.