IBM Stock: Tech Giant Beats Quarterly Estimates As Consulting Biz Leads Growth
IBM stock sank late Wednesday, though the technology mainstay beat Wall Street’s fourth-quarter expectations.
During the December period, IBM (IBM) earned $3.60 per share, minus some items, on $16.69 billion in sales. Earnings topped analyst forecasts by a penny, according to FactSet. Those analysts also expected $16.15 billion in sales. On a year-over-year basis, earnings grew 7.5% and sales were roughly flat.
Excluding the impact of exchange rates, the strongest growth came from…