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4/16, 10:07 PM (Source: TeleTrader)
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IBM+0.90%

140.33
Chart for: International Business Machines Corporation

IBM reports revenue of $18.2B in Q1

American tech-giant IBM announced on Tuesday that its revenue in the first quarter of 2019 stood at $18.2 billion, pointing to a decrease of 4.7% compared to the same quarter of 2018 when it amounted to $19.1 billion.

Meanwhile, the company reported earnings per share (EPS) at $2.25, slightly beating market expectations, and jumping 24% year over year. Furthermore, IBM's net income in the first quarter of 2019 stood at $1.59 billion, down over 6% compared to the same period a year before.

Commenting on the report, company's chair, president and chief executive officer​ Ginni Rometty said that IBM's "cloud revenue growth accelerated" in the first quarter, allowing it to grow in "key, high-value areas in Cloud and Cognitive Software and in consulting." "IBM’s investments in innovative technologies coupled with our industry expertise and our commitment to trust and security position us well to help clients move to chapter two of their digital reinvention," she added.

IBM's shares dropped 1.47% in the after hours trading.

Breaking the News / GG