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published in Blogs
Jan 25, 2022
IBM (IBM, $134.15) beats Q4 earnings expectations

IBM (IBM, $134.15) beats Q4 earnings expectations

IBM posted adjusted earnings of $3.35 per share for the fourth quarter, beating the $3.30 per share expected by analysts polled by Refinitiv.

The tech/cloud company’s revenue came in at $16.70 billion also surpassed analysts’ expectations of $15.96 billion.

IBM streamlined its reporting segments for the fourth quarter amid its spin-off of infrastructure services business  Kyndryl. Revenue from its software business, formerly known as Cloud and Cognitive Software, came in at $7.27 billion in revenue, up 8% year-over-year and above the $6.72 billion consensus among analysts polled by StreetAccount.

Revenue in the consulting unit, previously named Global Business Services, climbed +13% from the year-ago quarter  to $4.75 billion, exceeding the $4.20 billion StreetAccount consensus.

The IBM infrastructure business revenue fell -0.3% to $4.41 billion and a bit lower than the $4.43 billion consensus.

Related Tickers: IBM