By Maria Armental 
 

International Business Machines Corp. reported higher revenue for the September quarter, ahead of the planned separation of tech services business Kyndryl. Here's what you need to know:

PROFIT: Net income fell to $1.13 billion from $1.7 billion a share a year earlier. On a per-share basis, profit was $1.25, or $2.52 as adjusted. IBM said it recorded about 56 cents a share in costs tied to the planned separation.

Analysts surveyed by FactSet expected $1.95 a share, or $2.52 a share as adjusted.

REVENUE: Total revenue rose to $17.62 billion from $17.56 billion a year earlier. Analysts expected $17.79 billion.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

October 20, 2021 16:34 ET (20:34 GMT)

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