Why IBM Shares Are Falling Today

Adam Eckert

Thu, Oct 21, 2021, 10:14 AM1 min read

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International Business Machines Corp (NYSE: IBM) is trading lower Thursday after the company announced worse-than-expected third-quarter revenue results.

IBM reported quarterly earnings of $2.52 per share, which beat the estimate of $2.50 per share. The company reported quarterly revenue of $17.6 billion, which came in below the estimate of $17.77 billion.

"We continue to make progress in our software and consulting businesses, which represent our higher growth opportunities. With our increased focus and agility to better serve clients, we are confident in achieving our medium-term objectives of mid-single digit revenue growth and strong free cash flow generation," said Arvind Krishna, chairman and CEO of IBM.

View more earnings on IBM

Credit Suisse analyst Matthew Cabral maintained IBM with an Outperform rating and lowered the price target from $176 to $172.

IBM Price Action: IBM has traded as high as $152.84 and as low as $105.92 over a 52-week period.

The stock was down 6.68% at $132.42 at time of publication.

Photo: Open Grid Scheduler from Flickr.

Latest Ratings for IBM

Oct 2021	Credit Suisse	Maintains	Outperform
Oct 2021	Credit Suisse	Maintains	Outperform
Oct 2021	Jefferies	Initiates Coverage On	Buy

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

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Why IBM Shares Are Falling Today

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