See the full article for more details on a strong IBM quarter
Shares in IBM surged in after-hours trading after the company reported quarterly results that were way ahead of the expectations of analysts. Here’s some highlights:
- Overall sales at $26.7 billion were $1 billion higher than the consensus and grew 12 percent.
- Profits were $3.7 billion or $3.09 per share, up 8 percent year-over-year.
- Mainframe revenue grew 61 percent, including an 86 percent growth rate in the MIPS business and 12 percent growth in the Power architecture business.