IBM (IBM) Tops Q3 EPS by 5c; Reaffirms Outlook
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
IBM (NYSE: IBM) reported Q3 EPS of $3.29, $0.05 better than the analyst estimate of $3.24. Revenue for the quarter came in at $19.2 billion versus the consensus estimate of $19 billion.
Third-quarter revenues from the company’s strategic imperatives --- cloud, analytics, mobility and security --- increased 16 percent year to year (up 15 percent adjusting for currency). Cloud revenues (public, private and hybrid) for the quarter increased 44 percent (up 42 percent adjusting for currency). Cloud revenue over the trailing 12 months was $12.7 billion. The annual run rate for cloud as-a-Service revenue --- a subset of total cloud revenue --- increased to $7.5 billion from $4.5 billion in the third quarter of 2015. Revenues from analytics increased 15 percent (up 14 percent adjusting for currency). Revenues from mobile increased 19 percent and revenues from security increased 11 percent.
Full-Year 2016 Expectations
The company continues to expect operating (non-GAAP) diluted earnings per share of at least $13.50 and GAAP diluted earnings per share of at least $12.23. Operating (non-GAAP) diluted earnings per share exclude $1.27 per share of charges for amortization of purchased intangible assets, other acquisition-related charges and retirement-related charges. There is no change to IBM's previously-provided free cash flow guidance.
For earnings history and earnings-related data on IBM (IBM) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AutoNation (AN) Misses Q3 EPS by 10c; Announces Acquisitions; Approves Additional $250M Stock Buyback
- Atlantic Capital Bancshares (ACBI) Misses Q3 EPS by 2c
- Iradimed Corp. (IRMD) Tops Q3 EPS by 3c
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Earnings
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!