IBM falls after announcing HashiCorp buyout, Q1 revenue misses estimates

Hashicorp

24/04/2024 21:56

** International Business Machines'  IBM.N  shares fall 6.8%
to $171.20 in extended trading 
    ** IBM says will buy HashiCorp  HCP.O  in a deal valued at
$6.4 bln
    ** Co reports Q1 revenue slightly below estimates; Q1 adj
profit above estimates 
    ** IBM reports Q1 rev of $14.46 bln vs estimates of $14.55
bln- LSEG
    ** Reports Q1 adj EPS of $1.68 vs estimates of $1.60
    ** HashiCorp's shares up 4.6% at $32.84 in after-hours
trading 
    ** 8 of 20 brokerages rate IBM "buy" or higher, 10 "hold"
and 2 "sell" or lower; their median PT is $xx
    ** IBM has risen ~12% YTD; shares rose ~16% in 2023

 (Reporting by Arsheeya Bajwa in Bengaluru)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))