Summary Box: IBM misses on 3Q revenue

AP News
Posted: Oct 17, 2011 6:36 PM
Summary Box: IBM misses on 3Q revenue

PROFIT MACHINE: IBM again demonstrated its skill at wringing profit from its software and services juggernauts. The company beat analysts' net income forecasts for the third quarter and raised its earnings outlook for the full year.

THERE'S A BUT: IBM slightly missed on the revenue forecast, reviving questions about the company's ability to bring in enough new business to fuel its expected growth.

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STOCK HIT: IBM's stock price fell $7.19, or 3.9 percent, to $180.96 in extended trading after the results came out.