After-Hours Earnings Buzz: International Business Machines Corp (NYSE: IBM)

Category: Companies / Oct 16, 2013 5:57PM EDT

International Business Machines Corp. (NYSE: IBM) reported third-quarter earnings of $3.99 a share on $23.72 billion in revenue, down from Wall Street estimates of $24.75 billion, according to analysts polled by Reuters. Excluding items, earnings for the quarter came in at $3.96 a share. 

For the year, the computer hardware and software maker maintained it expects adjusted earnings of at least $16.25 a share, or at least $16.90 a share excluding a restructuring charge from the second quarter.

Shares of IBM plunged 5.80 percent to $175.90 in after-hours trading.

Also after the closing bell, other companies that reported their latest quarterly results include eBay Inc. (NASDAQ: EBAY), American Express Company (NYSE: AXP), Select Comfort Corp. (NASDAQ: SCSS), SanDisk Corp (NASDAQ: SNDK), Xilinx Inc (NASDAQ: XLNX) and SLM Corp (NASDAQ: SLM).

U.S. stocks closed at session highs on Wednesday after Senate leaders announced a compromise to end the government shutdown.

The Dow Jones industrial average gained 205.82 points, or 1.36 percent, to close at 15,373.83. The S&P 500 Index was up 23.48 points, or 1.38 percent, to end at 1,721.54. The Nasdaq Composite Index was up 45.42 points, or 1.20 percent, to finish at 3,839.43.


Video Credit: Reuters