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How is IBM’s stock doing lately?

How is IBM’s stock doing lately?
Asked by
Mark Michaels categorie-icon time-icon4 months ago
1 Answer Answer Question

Bryan Reynolds
Answered time-icon4 months ago

IBM (NYSE: IBM) shares gave up 4% in the session Tuesday, after the information technology company stated it produced lower-than-expected first quarter revenue results.

IBM has generated $2.25 per share on the revenue of $18.18 billion, compared with the analysts’ consensus of $2.22 on the revenue of $18.46 billion, according to Refinitiv.

Revenue was 5% lower than in the year-ago period, recording a third successive quarter of falling revenue.

IBM is expected to buy out the Red Hat software company for $34 billion in the second half of 2019. “IBM is winning new, even cloud-native, customers before RHT,” wrote analysts from Nomura Instinet. “OpenShift [a Red Hat product] should help IBM win new customers and new workloads as enterprises begin to usher mission-critical applications from on-premise to public or private clouds.”

Shares of IBM advanced nearly 28% since the beginning of this year (see the IBM stock chart here).

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