Shares of International Business Machines (NYSE: IBM) jumped as much as 4.8% on Wednesday, following an impressive fourth-quarter earnings report on Tuesday night. By 3 p.m. EST, Big Blue's stock had cooled down somewhat to a 3% gain.
IBM's fourth-quarter sales held steady year over year at $21.8 billion and adjusted earnings fell 3% to $4.71 per share. Your average analyst would have settled for earnings of roughly $4.68 per share on revenue near $21.6 billion. The company also set its full-year profit guidance slightly ahead of current Wall Street projections.
Image source: IBM.
Source Fool.com