So was there a surprise upside ? I wasn't impressed.
http://www.thestreet.com/print/story/10488111.html Dow component IBM (IBM Quote) exceeded Wall Street's forecast with earnings of $1.70 a share, although revenue was lighter than expected. The company also reaffirmed its 2009 guidance for earnings of at least $9.20 a share, compared with current forecasts of $9.03 a share.
IBM, which usually dazzles investors with its earnings report, was trading down 3.1% in late trading on the revenue miss.
Meanwhile, Texas Instruments (TXN Quote) shares traded higher by more than 4% in the after-hours session. The chipmaker reported first-quarter earnings of 7 cents a share, excluding items, compared with the Thomson Reuters average estimate for a loss of 3 cents a share. Revenue of $2.09 billion was also better than analysts expected.
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