International Business Machines Corp. Q3 adjusted earnings Beat Estimates

(RTTNews) - International Business Machines Corp. (IBM) reported earnings for third quarter that dropped from last year.

The company's earnings came in at $1.13 billion, or $1.25 per share. This compares with $1.70 billion, or $1.89 per share, in last year's third quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $2.29 billion or $2.52 per share for the period.

Analysts had expected the company to earn $2.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $17.62 billion from $17.56 billion last year.

International Business Machines Corp. earnings at a glance:

-Earnings (Q3): $2.29 Bln. vs. $2.32 Bln. last year. -EPS (Q3): $2.52 vs. $2.58 last year. -Analysts Estimate: $2.50 -Revenue (Q3): $17.62 Bln vs. $17.56 Bln last year.