Wall Street shares closed lower on Thursday and after the bell, International Business Machines (NYSE:IBM) followed the trend.
The stock fell 2.76% to US$164 in extended hours despite the computer behemoth posting fourth quarter numbers, which beat Wall Street expectations.
IBM finally broke its 22-quarter streak of declining revenue https://t.co/oNe8SJWSEc pic.twitter.com/Gs9xIuaWV2
— Bloomberg (@business) 18 January 2018
IBM reported US$22.5bn in revenue, breaking a 23-quarter streak of declining revenue year-on-year.
Elsewhere, American Express Company (NYSE:AXP) shares lost 2.36% to US$97.50 after the credit card company beat expectations on fourth quarter earnings and revenue, but announced a suspension of dividend buybacks, citing charges from the recent tax reform.
From losers to gainers and Mellanox Technologies Ltd (NASDAQ:MLNX) jumped over 7% after hours as it posted record high revenue in the fourth quarter, that was up 7% year-over-year.
The computer supplies manufacturer also announced strong guidance for fiscal 2018.