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1/21, 10:16 PM (Source: TeleTrader)
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IBM+0.77%

133.62
Chart for: International Business Machines Corp

IBM's EPS plunges 66% to $1.41 in Q4

IBM announced on Thursday that its revenue amounted to $20.4 billion in the fourth quarter of 2020, falling 6% from the same period a year earlier and missing analysts estimates.

GAAP net income plunged 66% year on year to $1.3 billion, or $1.41 per share. For full-year 2020, the company's revenue declined 5% on an annual basis to $73.6 billion and GAAP EPS stood at $6.13.

"We made progress in 2020 growing our hybrid cloud platform as the foundation for our clients’ digital transformations while dealing with the broader uncertainty of the macro environment," CEO Arvind Krishna stated.

IBM shares plummeted 4.44% in after-hours trading on worse-than-expected results.

Breaking the News / NP