Apple's Beat: Morning Tech Bytes

Apple and a few other known tech names beat the Street yesterday.
Author:
Publish date:

NEW YORK (TheStreet) -- Apple (AAPL) - Get Report beat fourth-quarter earnings estimates Monday but iPad sales fell short, forcing the stock down in pre-market trading.

Apple reported record high revenue

of $20.35 billion, handily beating analysts' estimates of $18.9 billion. It posted EPS of $4.64, ahead of the Street's estimate of $4.08.

The company sold 14.1 million iPhones, versus the Street's estimate of 11 million. However, iPad sales of 4.19 million missed analysts' expectations of 4.7 million shipments.

Apple was down more than 4% in premarket trading to around $304.86.

Microsoft

(MSFT) - Get Report

said Monday that chief software architect

Ray Ozzie is stepping down

from the company. In an e-mail to Microsoft employees, CEO Steve Ballmer said Ozzie will remain at the company until his retirement. Ballmer is not looking to replace Ozzie, he said.

Microsoft stock declined 2.4% in premarket trading to $25.20.

IBM

(IBM) - Get Report

announced Monday that its profit grew 12%, posting net income of $3.6 billion, or $2.82 a share, on sales of $24.3 billion.

IBM beat the Street's expectations

of an EPS of $2.75 a share on revenue of $24.1 billion.

IBM CEO Samuel Palmisano

said IBM grew revenue in its hardware, software and services businesses -- services sales grew by 2% -- and achieved significant growth in its emerging markets.

IBM dropped 3.24% in premarket trading to $138.20.

EMC

(EMC)

posted a 58% year over year increase in third quarter net income, as profit climbed to $472.5 million or 22 cents per share. Sales increased 20% over the same period last year to $4.21 billion.

EMC shares were up 0.29% in premarket trading to $20.86.

Online video platform

Brightcove

signaled it may be exploring a near-term IPO by hiring a new CFO with public company experience. The Cambridge, Mass. company, a long-rumored target of

Google

(GOOG) - Get Report

, announced Monday the appointment of Christopher Menard.

Menard was previously the CFO of publicly-listed health care and life sciences software company

Phase Forward

, which was acquired by

Oracle

(ORCL) - Get Report

last year.

Brightcove is expected to generate revenue of $50 million this year, according to

the Wall Street Journal.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to

http://twitter.com/Ozoran

.

>To submit a news tip, send an email to:

tips@thestreet.com

.