IBM surprises investors with return to growth in first quarter SHARE After four consecutive quarters of revenue declines, IBM Corp. surprised investors today with 1% growth in quarterly revenue, sending its stock up more than 3% in after-hours trading and raising hopes that other technology giants could report similar surprises in the coming weeks. Revenue rose to $17.73 billion from the same quarter a year ago and well ahead of analysts’ average estimate of $17.32 billion. Earnings per share of $1.77 also beat analysts’ estimate of $1.69. The surprise was to some extent a matter of timing, since revenues fell 2% when adjusted for constant currency. Still, any good financial news from IBM has been well received as of late and executives painted a bright picture of the upcoming quarter and the full year.