International Business Machines (IBM) is scheduled to release its 2Q15 earnings results after the closing bell on Monday. Checking in on the numbers, the Street’s estimates for the quarter reflect an expected profit of $3.79 per share, down from $4.32 in the same quarter last year. Revenue is projected to post a 14% yoy decline to $20.94 billion from $24.4 billion a year earlier. Meanwhile, ticker’s earnings whisper number calls for EPS of $3.82 on revenue of $20.95 billion.
As a quick reminder, IBM reported 1Q/15 EPS of $2.91, $0.08 better than the Street’s consensus estimate of $2.83. Revs declined 12.88% yoy to $19.6 billion versus the $19.73 billion consensus.
New York-based IBM, currently valued at $169.88 billion, has a high Wall Street price target of $198.00, which reflects a return potential of 15% over the last closing price of the stock.
IBM shares have advanced 3.19% in the last 4 weeks and 8.18% in the past three months. Over the past 5 trading sessions the stock has gained 3.33%. Shares of International Business Machines Corporation are up 9.10% year-to-date.
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