IBM revenue misses even the most pessimistic estimates

IBM shares fell more than 5 percent in after-hours trading Monday after the company announced third-quarter revenues that missed expectations.

The company recorded earnings of $3.34 per share on $19.28 billion in revenue.

Analysts had expected IBM to report earnings of about $3.30 a share on $19.62 billion in revenue, according to a consensus estimate from Thomson Reuters.

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