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IBM Rises 4%; Lifts FY22 Revenue Growth Outlook

Shares of IBM Corp. (IBM) are up 4 percent on Thursday's trading after the company lifted its full-year revenue growth above its mid-single digit model. The company's third-quarter results also beat the Street estimates.

In the third quarter, the company's revenues rose 6 percent to $14.1 billion from $13.3 billion a year ago. The company reported loss of $3.20 billion or $3.54 per share, compared to income of $.13 billion or $1.25 per share in the same period last year.

Excluding items, the company reported adjusted earnings of $1.65 billion or $1.81 per share for the period, which were above analysts estimate of $1.77 per share.

Currently at $127.60, the stock has traded between $114.56 and $144.73 during the past 52 weeks.

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