IBM Beats Q3 Estimates with $2.95 Adjusted EPS on $17.1 Billion Revenue

International Business Machines Corp. (IBM) reported third-quarter earnings of $2.19 billion, or $2.30 per share, on Wednesday, topping Wall Street expectations. Adjusted for merger and acquisition costs and non-recurring items, earnings came in at $2.95 per share, ahead of the $2.88 average estimate from six analysts surveyed by Zacks Investment Research. Revenue for the period reached $17.1 billion, also exceeding the $16.87 billion forecast. The Armonk, New York-based technology and consulting company's results surpassed analyst projections on both earnings and revenue for the quarter.