International Business Machines Corp. Earnings Retreat 21% In Q1

(RTTNews) - International Business Machines Corp. (IBM) announced a profit for first quarter that decreased compared to the same period last year.

The company said its earnings came in at $2.27 billion, or $2.35 per share. This was down from $2.89 billion, or $2.91 per share, in last year's first quarter.

Analysts had expected the company to earn $2.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.6% to $18.68 billion. This was down from $19.59 billion last year.

International Business Machines Corp. earnings at a glance:

-Earnings (Q1): $2.27 Bln. vs. $2.89 Bln. last year. -Earnings Decline (Y-o-Y): -21.5% -EPS (Q1): $2.35 vs. $2.91 last year. -EPS Decline (Y-o-Y): -19.2% -Analysts Estimate: $2.09 -Revenue (Q1): $18.68 Bln vs. $19.59 Bln last year. -Revenue Change (Y-o-Y): -4.6%

-Guidance: Full year EPS guidance: $13.50