IBM shares skid after revenue miss

CNBC
IBM shares skid after revenue miss
.

View photo

Scott Eelis | Bloomberg | Getty Images

IBM (IBM), the world's largest technology-services company, reported third-quarter earnings that beat Wall Street estimates but it missed revenue expectations.

After the earnings announcement, the company's shares plunged in trading after the bell. What is IBM stock doing now? (Click here to track the company's shares following the report.) (IBM)

Earnings excluding items rose to $3.99 a share from $3.62 a share in the year-earlier period.

Revenue fell to $23.72 billion from $24.75 billion a year ago.

Analysts had expected the company to report earnings excluding items of $3.96 a share on $24.75 billion in revenue, according to a consensus estimate from Thomson Reuters.

The company said its software revenue came in at $5.8 billion, shy of the $6 billion level analyst were expecting.

- Reuters contributed to this article.

This is a breaking news article. Please check back on CNBC.com for updates to this story.

View Comments (0)