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IBM Stock Retreats, Credit Suisse: Q3 Operational Earnings Disappointing

NEW YORK (TheStreet) -- Shares of IBM (IBM) were slumping on heavy trading volume late-morning Tuesday as Credit Suisse analysts said the technology company's 2016 third-quarter operational earnings were "disappointing."

Earnings fell 1% year-over-year to $3.29 per share, but were above analysts' expected $3.23 per share.

Revenue came in at $19.2 billion, surpassing Wall Street's projected $19.0 billion in revenue.

Credit Suisse analysts said they're concerned that IBM's third-quarter results were helped by "non-operational measures."

"We believe the secular and...


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