IBM Corp reported a better-than-estimated profit in the first quarter driven by sales of its cloud computing business. However revenue came in slightly below forecast as the company withdrew its 2020 guidance.In the first three months of the year, net income declined to $1.18 billion, or $1.31 per share, from $1.59 billion, or $1.78 per share, in the year-ago period. Adjusted EPS amounted to $1.84 per share, above the $1.80 per share estimates. Total revenue declined 3.4% to $17.57 billion during the same period, coming slightly below analysts’ estimates of $17.62 billion.IBM said its key areas of investment will continue …read more
Source:: Yahoo Finance
