Yahoo Finance International Business Machines First Quarter 2024 Earnings: EPS Beats Expectations
International Business Machines (NYSE:IBM) First Quarter 2024 Results
Key Financial Results
Revenue: US$14.5b (up 1.5% from 1Q 2023).
Net income: US$1.57b (up 69% from 1Q 2023).
Profit margin: 11% (up from 6.6% in 1Q 2023). The increase in margin was primarily driven by lower expenses.
EPS: US$1.72 (up from US$1.03 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
International Business Machines EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 32%.
Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are down 6.9% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for International Business Machines that you should be aware of.
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