IBM Estimates Show Growth as Shares Trail Its Industry
Zacks reports lower monthly returns for IBM shares, alongside higher consensus earnings and revenue estimates for the company.
Key takeaways
- IBM shares fell 6.6% over the past month, according to Zacks.
- Zacks consensus estimates put current-quarter EPS at $2.87, up 8.3% year over year.
- IBM reported quarterly revenue of $17.16 billion and EPS of $2.93.
IBM appeared on Zacks.com's most-searched-stock list after its shares fell 6.6% over the past month, according to Zacks Equity Research. The Zacks S&P 500 composite rose 2.4% over the same period, while IBM's industry gained 5%.
Zacks' consensus estimate for IBM's current-quarter earnings is $2.87 per share, up 8.3% from a year earlier. The estimate rose 0.5% over the past 30 days. For the current fiscal year, the $12.33-per-share estimate is unchanged over that period; next year's $13.20 estimate rose 0.1%.
The current-quarter sales estimate is $16.84 billion, up 3.1% year over year. Zacks puts revenue at $70.42 billion for the current fiscal year and $73.14 billion for the next, increases of 4.3% and 3.9%, respectively.
IBM's last reported quarter brought in $17.16 billion in revenue, up 1.1% year over year, and earnings of $2.93 per share, compared with $2.80 a year earlier. Revenue came in slightly below the $17.17 billion consensus estimate, while earnings matched expectations. Over the past four quarters, IBM beat consensus estimates for earnings three times and revenue three times, Zacks reported.
This article was produced with the help of AI technology. Source: Yahoo Finance
