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IBM shares tick higher after earnings beat

International Business Machines Corp. IBM, +zero.72% shares ticked higher within the prolonged session Wednesday after the tech massive topped Wall Street estimates for the quarter. IBM shares have been closing up 1.1% after hours, following a nil.7% achieve to near at $144.52 within the regular session. The company reported second-quarter net source of revenue of $2.four billion, or $2.61 a share, when compared with $2.33 billion, or $2.48 a share, within the year-ago length. Adjusted income have been $3.08 a share. Revenue rose to $20 billion from $19.3 billion within the year-ago length. Analysts surveyed by way of FactSet had estimated $3.04 a share on revenue of $19.85 billion. Shares of IBM are down five.8% at the 12 months, when compared with a five.3% upward push within the S&P 500 index SPX, +zero.22% and a 1.nine% achieve at the Dow Jones Industrial Average DJIA, +zero.32%

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IBM income beat fueled by way of mainframe gross sales, but that energy may not closing lengthy

International Business Machines Corp. shares ticked higher within the prolonged session Wednesday after the tech massive topped Wall Street estimates at the again of Big Blue’s mainframe trade, but some think the times of relying on that previous technology for income beats are numbered.