IBM (IBM) Higher After Positive Earnings Surprise
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Shares of IBM (NYSE: IBM) are 4% higher in after-hours trading Tuesday after the company surprised the Street with better than expected Q4 results and guidance.
IBM reported Q4 EPS of $3.28, 25 cents better than the analyst estimate of $3.03. Revenue for the quarter was $27 billion, versus the consensus of $28.15 billion.
IBM said it is "confident about 2009" and sees 2009 EPS of at least $9.20, versus the consensus of $8.75. The company also said, "we are ahead of pace on our roadmap for $10 to $11 per share."
IBM ended 2008 with $12.9 billion of cash on hand and generated free cash flow of $14.3 billion, up $1.9 billion year over year, excluding Global Financing receivables. IBM said, "the balance sheet remains strong, and the company is well positioned to take advantage of opportunities."
IBM reported Q4 EPS of $3.28, 25 cents better than the analyst estimate of $3.03. Revenue for the quarter was $27 billion, versus the consensus of $28.15 billion.
IBM said it is "confident about 2009" and sees 2009 EPS of at least $9.20, versus the consensus of $8.75. The company also said, "we are ahead of pace on our roadmap for $10 to $11 per share."
IBM ended 2008 with $12.9 billion of cash on hand and generated free cash flow of $14.3 billion, up $1.9 billion year over year, excluding Global Financing receivables. IBM said, "the balance sheet remains strong, and the company is well positioned to take advantage of opportunities."
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