IBM Third-Quarter Revenue and Earnings Expected to Fall
International Business Machines Corporation (IBM) reports its latest financial results after the close Wednesday, and analysts are expecting a decrease in both earnings and revenue.
Analysts polled by FactSet are expecting earnings per share of $2.66 on revenue of $18.22 billion. In the year ago quarter, IBM posted EPS of $3.42 on revenue of $18.7 billion.
In the second quarter, IBM reported revenue of $19.2 billion and earnings of $3.17 per share.
Year to date, shares of IBM are up 23%. They closed at $143.00 per share on Tuesday.
The stock has fallen 0.7% since the company last reported earnings on Jul. 17.
In the upcoming quarter analysts are forecasting net income of $4.2 billion, or $4.72 a share, on sales of $22 billion.
IBM is currently trading at a price-to-forward-earnings ratio of 10.8 based on the 12-month estimates of 20 analysts surveyed by FactSet.