ARMONK (dpa-AFX) - International Business Machines Corp. (IBM) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $1.055 billion, or $1.12 per share. This compares with $1.605 billion, or $1.72 per share, last year.
Excluding items, International Business Machines Corp. reported adjusted earnings of $1.517 billion or $1.60 per share for the period.
Analysts on average had expected the company to earn $1.43 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 0.5% to $14.541 billion from $14.462 billion last year.
International Business Machines Corp. earnings at a glance (GAAP) :
-Earnings: $1.055 Bln. vs. $1.605 Bln. last year. -EPS: $1.12 vs. $1.72 last year. -Revenue: $14.541 Bln vs. $14.462 Bln last year.
-Guidance: Next quarter revenue guidance: $16.40 - $16.75 Bln
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