IBM (NYSE: IBM) reported Q1 EPS of $2.91, versus the analyst estimate of $2.83. Revenue for the quarter came in at $19.6 billion versus the consensus estimate of $19.73 billion.

"In the first quarter we had a strong start to the year. Our strategic imperatives growth rate accelerated, demonstrating the power of our offerings in these new opportunities and contributing to improved revenue performance. Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion,” said Ginni Rometty, IBM chairman, president and chief executive officer.

IBM affirms FY2015 EPS outlook of $15.75 - $16.50, versus the consensus of $15.89.

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