IBM shares tick higher after earnings beat
International Business Machines Corp. shares ticked higher in the extended session Wednesday after the tech giant topped Wall Street estimates for the quarter. IBM shares were last up 1.1% after hours, following a 0.7% gain to close at $144.52 in the regular session. The company reported second-quarter net income of $2.4 billion, or $2.61 a share, compared with $2.33 billion, or $2.48 a share, in the year-ago period. Adjusted earnings were $3.08 a share. Revenue rose to $20 billion from $19.3 billion in the year-ago period. Analysts surveyed by FactSet had estimated $3.04 a share on revenue of $19.85 billion. Shares of IBM are down 5.8% on the year, compared with a 5.3% rise in the S&P 500 index and a 1.9% gain on the Dow Jones Industrial Average .
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