NEW YORK ( TheStreet) -- Shares of Dow component IBM ( IBM) lost ground late Monday after the Armonk, N.Y.-based company fell short on the top line with its latest quarterly results. The company reported non-GAAP earnings of $4 billion, or $3.28 a share, on revenue of $26.2 billion, up 8% year-over-year. The EPS performance bested the average estimate of analysts polled by Thomson Reuters for a profit of $3.22 a share in the September-ended period but fell slightly short of the top-line consensus view for revenue of $26.27 billion. The stock was last quoted at $179.24, down 3.9%, on after-hours volume of nearly 1.5 million, according to Nasdaq.com. IBM shares have outperformed the broad market in 2011, gaining more than 25%, and hitting a 52-week high of $190.53 in intraday action on Friday. That strong year-to-date appreciation may explain why the stock is getting a haircut in extended trades, despite the relatively small revenue miss and the company's decision to boost its operating earnings outlook for the full year to at least $13.35 a share, a bump of 10 cents. In addition, IBM had solidly beat the top-line view in the past two quarters, coming in 2.5% and 5.2% ahead in those instances. Wall Street was still slightly bullish ahead of the report with 15 of the 27 analysts covering the stock at strong buy (7) ro buy (8) vs. 12 holds.
Crocs' shares were last quoted at $17.27, down 35.2%, on volume of more than 3.4 million, according to Nasdaq.com. The plunge takes a big chunk out of the stock's more than 90% appreciation in the past year. The news was also weighing on shares of Deckers Outdoor ( DECK) in late trades as the maker of UGG brand boots, which is due to report its fiscal third-quarter results on Oct. 28, saw its stock dip 3.5% to $100.68 on volume of more than 50,000. Other stocks making notable moves in late trades included SuccessFactors ( SFSF), whose stock rose nearly 6% to $27.60 on volume of more than 120,000 after the provider of cloud-based business software lifted its third-quarter outlook to above breakeven results on revenue of $93 million to $95 million from a prior view for breakeven results on revenue of $83 million to $84 million; and VMWare ( VMW), whose shares ticked 1.7% lower to $88.01 on volume of more than 800,000 after the cloud computing company reportedly expressed some caution about next year. -- Written by Michael Baron in New York.