IBM Stock Rises After Q3 Beat and Higher Cash Flow Outlook
Photo: CoinCentral
TLDR IBM stock closed up about 4% at $251.50 on Wednesday, then moved to about $255 in after-hours trading. Q3 adjusted earnings were $2.95 a share on $17.1 billion in revenue, ahead of estimates. Software revenue rose 8% to $7.8 billion, beating forecasts. IBM now expects free cash flow to grow by more than $1 billion this year. Gross margin came in at 58.5%, below the 59.1% analysts expected. IBM stock closed up about 4% on Wednesday at roughly $251.50, a gain of $9.54. It then traded near $255 in after-hours action after the company posted third-quarter results .
Source: CoinCentral
