IBM (IBM) offered the latest evidence that big tech firms are holding up as it easily beat first-quarter forecasts and gave a bullish outlook after Wednesday's close.
Big Blue earned $1.65 a share, up 36% vs. a year earlier. Revenue rose 11% -- 4% in constant currencies -- to $24.5 billion. Both are the best gains in years.
Analysts forecast a profit of $1.45 a share on $23.71 billion in sales.
IBM also raised its full-year profit guidance to at least $8.50 a share. In February, it predicted $8.25 or more.
