Shares of IBM (NYSE:IBM) saw little movement in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $3.60, which matched analysts’ consensus estimate of $3.60 per share.
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Sales increased by 6% year-over-year in constant currency, with revenue hitting $16.7 billion. This beat analysts’ expectations of $16.2 billion.
Looking forward, management now expects revenue and adjusted earnings per share for Q1 2023 to be consistent with its earlier expectations of long-term growth. This suggests $63.5 billion in revenue for 2023.
Overall, Wall Street has a consensus price target of $147 on IBM stock, implying 4.46% upside potential, as indicated by the graphic above.
