Neilson Barnard/Getty
Wall Street was not happy with IBM on Tuesday after the tech company reported third quarter revenue that fell short of expectations.
IBM's revenues for the quarter were down 2% from the same quarter last year. Analysts were expecting $19.1 billion but the company brought in just $18.8 billion.
Here's what IBM reported:
- Revenues for the quarter (GAAP) were $18.8 billion, down 2% from the same time last year. This is compared to analyst expectations of $19.1 billion.
- Earnings per share for the quarter (non-GAAP) were $3.42. This is compared to analyst expectations of $3.40.
- Earnings per share guidance for 2018 (non-GAAP) is $13.80. This is compared to analyst expectations of $13.80.
NOW WATCH: Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years
See Also:
- 18 software stocks that have the 'durability' to defy a choppy market
- $7.2 billion Twilio is spending $2 billion to buy one of its publicly-traded partners
- Square insiders and investors were blindsided by the departure of their 'beloved' CFO — and no one can agree on how bad it is for the $28 billion company's future
SEE ALSO: 18 software stocks that have the 'durability' to defy a choppy market