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Earnings Results: IBM stock ticks higher as mainframe gains fuel earnings beat

Bloomberg
IBM is still finding success in mainframes.

International Business Machines Corp. shares ticked higher in the extended session Wednesday after the tech giant topped Wall Street estimates on the back of Big Blue’s mainframe business, but some think the days of relying on that old technology for earnings beats are numbered.

IBM IBM, +0.72% shares were last up 2% after hours, following a 0.7% gain to close at $144.52 in the regular session. At the close, shares were down 5.8% on the year, compared with a 5.3% rise in the S&P 500 index SPX, +0.22% and a 1.9% gain on the Dow Jones Industrial Average DJIA, +0.32%

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