IBM’s stock soars 8.1% to pace Dow’s gainers

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IBM stock rallies 5% on earnings beat, outlook

International Business Machines Corp. shares surged in the extended session Tuesday after the tech giant’s earnings and outlook topped Wall Street views. IBM shares surged 5% after hours, following a 1.1% decline to close the regular session at $122.51. The company reported fourth-quarter net income of $1.95 billion, or $2.15 a share, compared with a loss of $1.05 billion, or $1.14 a share, in the year-ago period. Adjusted earnings were $4.87 a share. Revenue declined to $21.76 billion from $22.54 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $4.82 a share on revenue of $21.73 billion. For 2019, IBM said it expects adjusted earnings of “at least $13.90” a share, while analysts forecast $13.80.

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