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IBM beats Wall Street expectations in Q4

25 January 2022 By Klavs Valters

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It is set to be a busy week over in the US with major companies, including General Electric, Johnson & Johnson, Microsoft, Tesla, Apple and McDonald’s set to release their earnings figures for the previous quarter. International Business Machines Co. (IBM) released their latest figures after the closing bell on Monday.

The US technology giant reported total revenue of $16.695 billion in Q4, beating analyst forecast of $15.96 billion.

Earnings per share reported at $3.35 per share, also beating Wall Street analyst estimates of $3.39 per share.

Arvind Krishna, IBM chairman and CEO commented on the latest results following the announcement: “We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting.”

“Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022,” Krishna added.

International Business Machines Co. chart (1Y)

Shares of IBM little changed on Monday, ending the day down by 0.41%. The stock is up by 8.64% in the past year at $128.82 per share.

IBM is the 123rd largest company in the world and with a total market cap of $115.46 billion.

You can trade International Business Machines Co. (IBM) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: International Business Machines Co., TradingView, CompaniesMarketCap

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