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4/19, 10:12 PM (Source: TeleTrader)
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IBM+0.44%

151.28
Chart for: International Business Machines Corp

IBM's EPS fall 19% to $1.06 in first quarter

American technology company IBM announced on Monday its earnings per share in the first quarter landed at $1.06, a drop of 19% on the year. Meanwhile, IBM's revenue in the same quarter topped analyst expectations at $17.73 billion.

"While we have more work to do, we are confident we can achieve full-year revenue growth and meet our adjusted free cash flow target in 2021," the company's Chairman and Chief Executive Officer Arvind Krishna commented on IBM's results. The company also reiterated its previous guidance of full-year revenue growth in the update.

Shares of IBM jumped 4.04% to $138.50 in after-hours trading following the release of the company's earnings.

Breaking the News / JC