Why IBM Stock Popped 10% This Week

International Business Machines (NYSE: IBM) stock is up over 10% this week after reporting strong first-quarter earnings, according to data provided by S&P Global Market Intelligence. The century-old technology company posted better-than-expected revenue and earnings to start out 2022, causing investors to get more optimistic about the stock, and analysts to raise their price targets.

On April 19, IBM reported its earnings for the first three months of 2022. Revenue came in at $14.2 billion, up 8% year over year, and non-GAAP (adjusted) diluted earnings per share (EPS) came in at $1.40. Both numbers slightly beat analyst expectations coming into the results, which is why investors decided to buy up the stock after the report.

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Source Fool.com