IBM (IBM) Tops Q1 EPS by 10c, misses on revenue; offers guidance
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April 25, 2024 6:36 AM EDT
Morgan Stanley analyst Erik Woodring lowered the price target on IBM (NYSE: IBM) to $179.00 (from $186.00) while maintaining a Equalweight rating.
The analyst comments "IBM reported 1Q rev/EPS roughly in-line with MSe, and reiterated CY24 guidance (in CC). However, emerging Consulting weakness, a... More
April 24, 2024 4:52 PM EDT
Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $215.00 price target on IBM (NYSE: IBM).
The analyst comments "We think the print is fairly strong specially the software inflection. Questions will be around Consulting deceleration here (~2% in march-qtr vs. 5% in Dec-qtr). In... More
April 24, 2024 4:22 PM EDT
(Updated - April 25, 2024 4:00 AM EDT)
IBM (NYSE: IBM) has reported earnings that beat analysts' expectations for the fiscal Q1 2024, though revenue missed the mark. The company also announced it has reached an agreement to acquire HashiCorp (NASDAQ: HCP) for $6.4 billion.
Shares fell over 9% in after-hours trading.
The company posted earnings per share (EPS) of $1.68, beating the consensus estimates of $1.58. However, the company's revenue for the quarter was slightly below expectations at $14.46 billion, missing the consensus projection of $14.51 billion.
Consulting revenue stood at $5.19 billion, also... More
