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International Business Machines Corp. Q1 Profit Drops

International Business Machines Corp. (IBM) released earnings for first quarter that decreased from the same period last year

The company's bottom line came in at $733 million, or $0.81 per share. This compares with $955 million, or $1.06 per share, in last year's first quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $1.27 billion or $1.40 per share for the period.

The company's revenue for the quarter rose 7.7% to $14.20 billion from $13.19 billion last year.

International Business Machines Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $733 Mln. vs. $955 Mln. last year.
-EPS (Q1): $0.81 vs. $1.06 last year.
-Revenue (Q1): $14.20 Bln vs. $13.19 Bln last year.

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