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IBM ( IBM ) reported better-than-expected first-quarter earnings after the market close Monday, sending the stock up fractionally in late trading. IBM reported revenue of $18.7 billion, down 4.6% from the year-earlier quarter but edging the Wall Street consensus estimate of $18.3 billion. It reported earnings per share ex items of $2.35, well above views of 2.09, as polled by Thomson Reuters, but down 19% year of year and its fourth quarter in a row of EPS declines. It was the 16th quarter in a row of year-over-year revenue declines as IBM continues to undergo a major transition. Image provided by Shutterstock . Scalper1 News
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