(RTTNews) - International Business Machines Corp. (IBM) reported earnings for third quarter that declined from the same period last year.
The company's bottom line totaled $1.67 billion, or $1.87 per share. This compares with $2.69 billion, or $2.94 per share, in last year's third quarter.
Excluding items, International Business Machines Corp. reported adjusted earnings of $2.39 billion or $2.68 per share for the period.
Analysts had expected the company to earn $2.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.9% to $18.03 billion from $18.76 billion last year.
International Business Machines Corp. earnings at a glance:
-Earnings (Q3): $2.39 Bln. vs. $3.13 Bln. last year. -EPS (Q3): $2.68 vs. $3.42 last year. -Analysts Estimate: $2.67 -Revenue (Q3): $18.03 Bln vs. $18.76 Bln last year.
-Guidance: Full year revenue guidance: $12.80
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