International Business Machines Corporation (IBM) reports its latest financial results after the close Wednesday, and analysts are expecting a decrease in both earnings and revenue.
Analysts polled by FactSet are expecting earnings per share of $2.66 on revenue of $18.22 billion. In the year ago quarter, IBM posted EPS of $3.42 on revenue of $18.7 billion.
In the second quarter, IBM reported revenue of $19.2 billion and earnings of $3.17 per share.
Year to date, shares of IBM are up 23%. They closed at $143.00 per share on Tuesday.
The stock has fallen 0.7% since the company last reported earnings on Jul. 17.
In the upcoming quarter analysts are forecasting net income of $4.2 billion, or $4.72 a share, on sales of $22 billion.
IBM is currently trading at a price-to-forward-earnings ratio of 10.8 based on the 12-month estimates of 20 analysts surveyed by FactSet.
Jim Cramer and the Action Alerts Plus team are watching the IT Services sector. To find out more about what stocks they like in the industry click here now to get more from Action Alerts PLUS.