IBM Common Stock (NYSE:IBM) shares are trading higher by around 6% at $137.00 in Monday's after-hours session after the company reported better-than-expected fourth-quarter EPS and sales results.
IBM reported quarterly earnings of $3.35 per share which beat the analyst consensus estimate of $3.14. The company reported quarterly sales of $16.70 billion which beat the analyst consensus estimate of $16.06 billion by roughly 4%.
“We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting," said Arvind Krishna, IBM chairman and chief executive officer. "Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022.”
IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people.
IBM has a 52-week high of $146.37 and a 52-week low of $112.40.
