IBM (NYSE:IBM) reported Q3 EPS of $3.28, better than analyst estimates of $3.22 per share. Revenues for the quarter rose 8% year-over-year to $26.20, missing consensus estimates of $26.25 billion.
Samuel J. Palmisano, IBM chairman, president and chief executive officer said, "In the third quarter, we drove revenue growth, margin expansion and increased earnings as a result of our innovation-based strategy and continued investment in growth initiatives. Growth markets delivered outstanding revenue performance across software, hardware, and services and contributed to the company's expanded margins. We also achieved strong results in Smarter Planet, business analytics and cloud."
International Business Machines (NYSE:IBM) has potential upside of 2.4% based on a current price of $187.63 and an average consensus analyst price target of $192.11.
International Business Machines is currently above its 50-day moving average (MA) of $171.71 and above its 200-day of $167.01.
