October 17, 2008 |
IBM Corp. said its third-quarter profit rose nearly 20%, surpassing analysts' estimates. However, slumping hardware sales hurt the technology company's revenue, which missed Wall Street's forecast. The Armonk, N.Y.-based technology company had released partial results for the July-September period last week to try to reassure investors who had been driving down its stock price. IBM earned $2.82 billion, or $2.05 a share, compared with $2.36 billion, or $1.68, in the year-earlier period.
October 9, 2008 |
IBM Corp. announced its third-quarter results earlier than expected Wednesday, and the company beat Wall Street's profit estimate and reaffirmed its full-year 2008 guidance. The stock, a component of the Dow Jones industrial average, gained nearly 6% in after-hours trading on the news. The Armonk, N.Y.-based technology company said after the stock market closed that it earned $2.
January 18, 2008 |
IBM Corp. told Wall Street to raise its 2008 estimates, further boosting a stock that was already buoyed by strong fourth-quarter earnings. IBM Chief Financial Officer Mark Loughridge said earnings would be $8.20 to $8.30 a share in 2008. Analysts polled by Thomson Financial were expecting $7.94 in 2008. Investors responded by bidding IBM shares up 5% to $106.20 after hours. Before the earnings report, the stock had fallen 53 cents to close at $101.10. In the last three months of 2007, IBM earned $3.95 billion, or $2.80 a share, on revenue of $28.9 billion.
January 15, 2008 |
IBM reported a better-than-expected 24% rise in preliminary quarterly earnings Monday on strong sales in overseas markets, driving its shares up 5% and spurring a tech rally. The surprise report ahead of IBM Corp.'s scheduled earnings release Thursday eased some concerns about how much the slowing U.S. economy had hurt the world's largest technology services company.
December 7, 2007 |
IBM says it has made a breakthrough in converting electrical signals into light pulses that brings closer the day when supercomputing, which now requires huge machines, will be done on a single chip. In research published Thursday in the journal Optics Express, IBM said it had produced electro-optic modulators a hundredth to a thousandth the size of comparable silicon photonics modulators and small enough to fit on a processor chip.
November 13, 2007 |
IBM Corp. is making its largest acquisition ever, a deal announced Monday to buy Cognos Inc. for $5 billion in cash in an effort to keep up with rivals in "business intelligence" software. The deal would follow similar moves in the same market this year. SAP recently linked up with Business Objects for $7 billion and Oracle Corp. grabbed Hyperion Solutions Corp. for $3.3 billion. Cognos shares had soared recently on expectations that it too would be acquired.