IBM exceeds revenue estimates, though sales are about the same as a year earlier

IBM shares edged higher in extended trading after the tech conglomerate reported revenue that topped analysts’ estimates. FrankCNBC has more.

$3.60 per share, adjusted, vs. $3.60 per share as expected by analysts, according to Refinitiv.Analysts had expected IBM's total revenue to decline for the first time in two years, but it ended up being flat, according to a statement. Net income rose 16% to $2.71 billion.

IBM's software segment posted $7.29 billion, which works out to nearly 3% growth and above the $7.12 billion consensus among analysts polled by StreetAccount.

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