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Why IBM Stock Just Sank 6.5%

TheMotleyFool

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International Business Machines (NYSE: IBM) reported its fiscal Q3 2020 earnings after close of trading Monday. IBM stock is down 6.5% in response as of 11 a.m. EDT today despite nailing the analysts' consensus earnings target, and surpassing it on revenue.

Expected to earn $2.58 per share, IBM matched that on a pro forma basis. It beat the consensus estimate of $17.5 billion in revenue, at $17.6 billion.

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Source Fool.com

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