IBM reports better-than-expected Q4 results; forecast beats

International Business Machines Corp forecast full-year earnings above Wall Street estimates and reported better-than-expected quarterly revenue, helped by growth in newer areas such as cloud-based services and analytics. The Armonk, New York-based company forecast adjusted earnings of at least $13.80 per share for fiscal 2017, beating the average analyst estimate of $13.74, according to Thomson Reuters I/B/E/S.

IBM Revenue Declines Again

International Business Machines Corp. notched its 19th consecutive quarter of falling revenue, year on year, as it struggles to offset declines in older businesses with sales in younger ones that are growing at a rapid clip. The Armonk, N.Y., computing giant said its fourth-quarter 2016 net profit edged up 0.9% as it posted $21.77 billion in revenue.