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IBM sees biggest jump in 8 years after earnings beat

Key Points
  • IBM posted higher-than-expected adjusted earnings per share of $3.30.
  • The company has seen 22 straight quarters of declining revenue.
  • Shares closed at $146.54 Tuesday and rose 5 percent in after-hours trading.
Ginni Rometty, Chairwoman, President and CEO of IBM, at the World Economic Forum in Davos, Switzerland.
David A. Grogan | CNBC

IBM saw its biggest stock jump in eight years in early trading Wednesday following an after-the-bell earnings beat on Tuesday.

The stock was up 9 percent in morning trading, the largest jump since a 11.5 percent spike in January 2009. Shares were trading above $159 Wednesday morning.

IBM revenue has declined for 22 straight quarters, but shareholders seemed encouraged by higher-than-expected adjusted earnings per share of $3.30.

Shares closed at $146.54 Tuesday and rose 5 percent in after-hours trading.

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