Yahoo and IBM both released earnings reports today. Yahoo met expectations, but that's not necessarily a good thing—expectations were pessimistic. Meanwhile, IBM met expectations too but still saw its share price slip in after-hours trading.
Yahoo's net earnings are down 26% and its revenue is down 24%. To distract from the withering financial outlook, the company announced numerous new features such as Facebook integration with Yahoo News and a premium video portal. Yahoo's CTO, Raymie Stata, resigned not long after the board fired CEO Carol Bartz. The company continues to look more and more tempting as an acquisition target.
IBM's stock dippd 3% despite meeting Wall Street forecasts. Revenue rose 8% to $26 billion and the company reported a profit boost of 15% to $3.28 per share.