ARMONK (dpa-AFX) - IBM (IBM) announced the company continues to expect 2016 operating (non-GAAP) earnings per share of at least $13.50 and GAAP earnings per share of at least $12.23. Earnings per share exclude $1.27 per share of charges for amortization of purchased intangible assets, other acquisition-related charges and retirement-related charges. There is no change to IBM's previously-provided free cash flow guidance.
Analysts polled by Thomson Reuters expect the company to report profit per share of $13.51. Analysts' estimates typically exclude special items.
IBM ended the third-quarter with $10.0 billion of cash on hand. Debt, including Global Financing debt of $26.1 billion, totaled $42.5 billion. Core (non-Global Financing) debt totaled $16.4 billion.
Shares of IBM were down more than 3% after hours.
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