Big Blue (IBM) Doesn't Disappoint Investors

IBM (IBM) just announced quarterly earnings for the current quarter. Revenue and EPS beat analyst expectations. Shares of IBM closed the day up 1.59% to finish the day at $131.88.

Analysts were looking for Q1 earnings of $1.93 per share on revenue of $22.27 billion. IBM beat those numbers reporting $1.97 per share and revenue of $22.9 billion dollars.

Shares of IBM are down over $2 in after hours trading with investors selling the stock off due to lower gross margins. IBM management increased the full year earnings outlook 8 cents per share to $11.20. IBM is forecasting continued revenue growth in the company's software business.

Things are looking up at IBM with continued growth in business services and software.