IBM Pre-Announces Q3 EPS Above Estimates

International Business Machines ( IBM ) late last night pre-announced Q3 results it had expected to disclose on Oct. 16, and the results seem to have been received favorably. IBM said its profit rose to $2.05 per share, ahead of an average analyst estimates for $2.01. The company’s sales came in a billion light, though, at $25.3 billion, as opposed to analysts’ expectation for $26.53 billion. The company said it expects to have full-year earnings of $8.75 per share, just a penny below the average estimate. The market seems happy with the beat on the bottom line, boosting IBM shares $2.62, or 2.89%, to $93.17. (link)