International Business Machines Corporation (NYSE:IBM) shares are trading lower Thursday despite third-quarter results that beat estimates on earnings and revenue, reversing a gain of about 4% from Wednesday’s session. Why are IBM shares down?
86. 822 billion.
7 billion. Cash flow from operations was $4 billion, and free cash flow was $3 billion.
1 billion of cash, restricted cash and marketable securities. 69 per share, payable Dec.
10 to shareholders of record as of Nov. 10.
"Our clients are now deploying Super Intelligence in ways that transform entire operating models, instead of simply addressing narrow or novel problems," said Arvind Krishna, chairman, president and CEO of IBM. 343 billion.
It kept its constant-currency revenue growth target at 4% to 5%. It also raised its full-year free cash flow outlook, and now expects an increase of more than $1 billion from a year earlier.
com, IBM’s stock surged after hours Wednesday and then reversed sharply once management took to the conference call. Krishna said on the call that corporate clients are growing concerned about whether AI spending is generating measurable returns.
1% consensus, and its consulting segment’s gross margin narrowed from the prior quarter. It also kept its full-year constant-currency revenue growth target unchanged at 4% to 5%, which disappointed investors hoping for an upward revision after the beat.
0%. 00, according to data from Benzinga Pro.
