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IBM: Q1 Earnings Snapshot

April 19, 2021 GMT

ARMONK, N.Y. (AP) _ International Business Machines Corp. (IBM) on Monday reported first-quarter earnings of $955 million.

On a per-share basis, the Armonk, New York-based company said it had profit of $1.06. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.77 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.

The technology and consulting company posted revenue of $17.73 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $17.44 billion.

IBM shares have increased nearly 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $133.15, a climb of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM