International Business Machines Corp. Q1 Profit Increases, beats estimates

(RTTNews) - International Business Machines Corp. (IBM) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $927 million, or $1.01 per share. This compares with $733 million, or $0.81 per share, in last year's first quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $1.25 billion or $1.36 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.4% to $14.25 billion from $14.20 billion last year.

International Business Machines Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $927 Mln. vs. $733 Mln. last year. -EPS (Q1): $1.01 vs. $0.81 last year. -Analyst Estimate: $1.26 -Revenue (Q1): $14.25 Bln vs. $14.20 Bln last year.