International Business Machines Corporation (NYSE:IBM) IT products and services provider, is reporting third quarter earnings results on Monday 19th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 2.58 per share.
For the full year, analysts predict revenues of $ 74084.80 million, while looking forward to income of $ 11.07 per share.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 2.58 ~ $ 2.58 per share, while revenues are expected in a range of $ 17,600.00 million ~ $ 17,600.00 million
Click Here For More Historical Outlooks Of International Business Machines Corporation
Previous Quarter Performance
International Business Machines Corporation came out with income for the second quarter of $ 2.18 per share, from the revenue of $ 18,123.00 million. The quarterly earnings declined 31.23 percent while revenues down 5.42 percent compared with the same quarter last year.
Wall street analysts are predicting, IBM to report 2Q20 income of $ 2.06 per share from revenue of $ 17726.30 million. The bottom line results beat street analysts by $ 0.12 or 5.83 percent, at the same time, top line results outshined analysts by $ 396.70 million or 2.24 percent.
Stock Performance
On Friday, shares of International Business Machines Corporation has traded high as $ 126.43 and has cracked $ 124.66 on the downward trend, reaching $ 125.93 with volume of 4.19 million shares.
According to the previous trading day, closing price of $ 125.93, representing a 37.91 % increase from the 52 week low of $ 90.56 and a 21.33 % decrease over the 52 week high of $ 158.75.
The company has a market capital of $ 112.15 billion and is part of the Technology sector and Information Technology Services industry.
Recent Analyst recommendations
- On 9th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 140.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 1.63 per share on July 22, 2020. The dividend were payable on September 10, 2020 to holders of record as of the close of business on August 10, 2020 and ex-dividend date on August 7, 2020.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names. This segment also offers transaction processing software for use in banking, airlines, and retail industries.
