5 Stocks Making Big Moves After Releasing Their Financial Results

In this article, we discuss the 5 stocks making big moves after releasing their financial results. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks Making Big Moves After Releasing Their Financial Results.

5. International Business Machines Corporation (NYSE:IBM)

 Number of Hedge Fund Holders: 44

Shares of International Business Machines Corporation (NYSE:IBM) rose nearly two percent in the after-hours trading session on Tuesday, April 19, 2022, after beating expectations for the first quarter.

International Business Machines Corporation (NYSE:IBM) reported adjusted earnings of $1.40 per share, topping estimates of $1.38 per share. Revenue for the quarter rose 8 percent on a year-over-year basis to $14.2 billion, exceeding analysts’ average estimate of $13.85 billion.

International Business Machines Corporation (NYSE:IBM) also released its segment-wise sales performance. Its software revenue rose 12.3 percent to $5.8 billion and consulting revenue increased 13.3 percent to $4.8 billion in the quarter. On the downside, infrastructure revenue slipped 2.3 percent to $3.2 billion, while financing revenue plummeted 26.2 percent to $0.2 billion.

Speaking on the results, CEO Arvind Krishna said in a statement:

“Demand for hybrid cloud and AI drove growth in both Software and Consulting in the first quarter. Today we’re a more focused business and our results reflect the execution of our strategy. We are off to a solid start for the year, and we now see revenue growth for 2022 at the high end of our model.”