IBM earnings top estimates, acquiring HashiCorp for $6.4B

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IBM (IBM) reported first quarter operating earnings of $1.68 compared to estimates of $1.59. Revenue of $14.46 billion was just shy of expectations of $14.5 billion.

The tech giant also announced it was buying HashiCorp (HCP) for $35 per share, or about $6.4 billion, in a bid to boost its cloud-based offerings.

Yahoo Finance's Julie Hyman and Josh Lipton break down the results.

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This post was written by Stephanie Mikulich.

This post has been updated to reflect a more accurate revenue estimate.

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