IBM (IBM) Stock: Why It Increased Over 3% Today

By Amit Chowdhry ● Oct 20, 2022
  • The stock price of IBM (IBM) increased by over 3% intraday today. This is why.

The stock price of IBM (IBM) increased by over 3% intraday today.

Why: Q3 results

Results: IBM reported a Q3 EPS of $1.81, which was $0.02 higher than analyst estimates of $1.79. And the revenue for the quarter was $14.11 billion compared to the consensus estimate of $13.54 billion.

Guidance: In terms of guidance, the company expects constant currency revenue growth above the mid-single digit model, which is up from the high end of the mid-single digit model. And the company also reaffirmed the $10 billion full-year forecast for free cash flow.