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Q3 Software Rebound Can’t Hold the Breakout as Shares Fall Back Toward $238.20

Q3 Software Rebound Can’t Hold the Breakout as Shares Fall Back Toward $238.20

TradingKey – International Business Machines (NYSE: IBM) ended the day on October 21 at $251.46, up 3.94% from the previous day. After its third-quarter report, the shares rose around 6% to approximately $267, then fell to $242.25 after hours (down 3.66%). Premarket quotes at about $236.88 this morning would erase the regular session’s gains.

There was a beat on both the revenue and EPS lines. IBM also said the deal delays it cited in July were simply timing, not lost demand. Free cash flow was also reported to be higher, but the revenue guidance, which was cited by many to be the catalyst for the rally, was left unchanged.

Q3 Beat on Revenue and EPS

Revenue for the quarter was $17.10 billion, up 5% from the same quarter last year, or 6%…

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