ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported first-quarter profit of $1.22 billion.
The Armonk, New York-based company said it had profit of $1.28 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.91 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The technology and consulting company posted revenue of $15.92 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $15.68 billion.
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