IBM's Profit Rises 10 Percent
International Business Machines Corp.’s quarterly earnings rose 10 percent, as the technology giant posted improved margins and its best quarterly revenue growth in a decade.
The company also forecast full-year operating earnings would rise to “at least” $13.15 a share, compared with IBM’s January estimate of “at least” $13. Analysts polled by Thomson Reuters had most recently forecast $13.08.
Shares jumped 2.1 percent to $168.89 in after-hours trading on the strong results.