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IBM (IBM) Stock Plunges 5% on Sales Miss, Q3 Results Seen as a Setback
October 21, 2021 6:57 AM EDTShares of IBM (NYSE: IBM) are down 5% in pre-open Thursday after the company reported lower-than-expected sales for its third quarter.
IBM reported Q3 EPS of $2.52, slightly ahead of the analyst estimate of $2.50. Revenue for the quarter came in at $17.6 billion versus the consensus estimate of $17.77 billion.
With the separation of Kyndryl early next month, IBM takes the next step in our evolution as a platform-centric hybrid cloud and AI company," said Arvind Krishna, IBM chairman and chief executive officer.
We continue to make progress in our software and consulting... More
