(RTTNews) - International Business Machines Corp. (IBM) announced a profit for its third quarter that climbed from last year.
The company's earnings totaled $1.70 billion, or $1.89 per share. This compares with $1.67 billion, or $1.87 per share, in last year's third quarter.
Excluding items, International Business Machines Corp. reported adjusted earnings of $2.32 billion or $2.58 per share for the period.
Analysts had expected the company to earn $2.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.6% to $17.56 billion from $18.03 billion last year.
International Business Machines Corp. earnings at a glance:
-Earnings (Q3): $2.32 Bln. vs. $2.39 Bln. last year. -EPS (Q3): $2.58 vs. $2.68 last year. -Analysts Estimate: $2.58 -Revenue (Q3): $17.56 Bln vs. $18.03 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.