By Colin Kellaher
International Business Machines Corp. Thursday said it will post third-quarter revenue and earnings roughly in line with Wall Street's expectations as the tech giant unveiled plans to split into two publicly traded companies.
IBM said it expects to report adjusted earnings of $2.58 a share on revenue of $17.6 billion for the quarter.
Analysts polled by FactSet, on average, are expecting an adjusted profit of $2.58 a share on sales of $17.54 billion.
IBM said it will report its full third-quarter results as planned later this month.
The Armonk, N.Y., company Thursday said it plans to focus on hybrid cloud growth and spin off the managed infrastructure services unit of its global technology services division into a new public company.
Shares of IBM, which closed Wednesday at $124.07, rose 4.6% in premarket trading Thursday.
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(END) Dow Jones Newswires