Earnings Outlook: Stability seen from full IBM earnings report

SAN FRANCISCO (MarketWatch) - IBM Corp. took most of the surprise out of its third-quarter earnings announcement when the company delivered better-than-expected results more than a week ahead of its scheduled report. Analysts surveyed by FactSet Research had forecast IBM to earn $2.01 a share on revenue of $26.5 billion. While IBM's earnings topped analysts' forecasts, sales fell short of the last consensus estimate, but several analysts were said to be in the middle of adjusting their revenue targets lower when IBM issued its earlier-than-expected results. IBM also said that its gross margins for the quarter rose to 43.3% from 41.3% a year ago. The company also gave some assurance regarding its outlook for the rest of year, saying it still expects to earn at least $8.75 a share for all... [read full story]