Earnings Results: IBM revenue takes a slide, and the stock is doing the same

International Business Machines Inc. shares declined in the extended session Tuesday after the tech giant’s revenue came in light even though adjusted earnings topped Wall Street estimates.

IBM IBM, +0.86% shares slid 1.3% after hours, following a 0.9% rise to close the regular session at $145.14. In comparison, both the Dow Jones Industrial Average DJIA, +0.26% and the tech-heavy Nasdaq Composite Index COMP, +0.30% gained 0.3%, and the S&P 500 index SPX, +0.05% advanced less than 0.1%.

The company reported first-quarter net income of $1.59 billion, or $1.78 a share, compared with $1.68 billion, or $1.81 a share, in the year-ago period.

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