- Full year 2018 earnings guidance disappointed.
- Shares are down more than 7%.
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IBM is getting rocked after giving disappointing guidance (IBM)
IBM beat earnings expectations. So what's the problem? See why the stock is falling.
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IBM shares are getting rocked Wednesday, down more than 7%, after the company's first-quarter results beat on both the top and bottom lines, but the company's full year earnings guidance fell short of estimates.
The enterprise giant earned $2.45 a share on revenue of $19.1 billion, beating the $2.41 and $18.82 billion that Wall Street was expecting.
The company's full year earnings guidance of $13.80 a share was light, missing the Wall Street consensus by four cents.
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IBM is down more than 3% this year.
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