Wall Street analysts forecast that IBM (IBM Quick QuoteIBM - Free Report) will report quarterly earnings of $1.42 per share in its upcoming release, pointing to a year-over-year decline of 15.5%. It is anticipated that revenues will amount to $14.43 billion, exhibiting a decline of 0.2% compared to the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain IBM metrics that are commonly tracked and forecasted by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Revenue- Global financing' of $183.01 million. The estimate points to a change of -5.2% from the year-ago quarter.

Based on the collective assessment of analysts, 'Revenue- Consulting' should arrive at $5.10 billion. The estimate indicates a change of -1.7% from the prior-year quarter.

It is projected by analysts that the 'Revenue- Infrastructure' will reach $2.84 billion. The estimate suggests a change of -7.6% year over year.

Analysts expect 'Revenue- Software' to come in at $6.27 billion. The estimate indicates a change of +6.2% from the prior-year quarter.

According to the collective judgment of analysts, 'Revenue- Other' should come in at $78.46 million. The estimate indicates a change of -27.4% from the prior-year quarter.

Analysts forecast 'Revenue- Infrastructure Support' to reach $1.22 billion. The estimate suggests a change of -6.2% year over year.

The consensus among analysts is that 'Revenue- Hybrid Infrastructure' will reach $1.67 billion. The estimate points to a change of -7.2% from the year-ago quarter.

The combined assessment of analysts suggests that 'Revenue- Application Operations' will likely reach $1.89 billion. The estimate indicates a change of -0.7% from the prior-year quarter.

Analysts' assessment points toward 'Revenue- Technology Consulting' reaching $907.57 million. The estimate suggests a change of +0.8% year over year.

The consensus estimate for 'Revenue- Business Transformation' stands at $2.33 billion. The estimate indicates a year-over-year change of +1.3%.

The average prediction of analysts places 'Revenue- Hybrid Platform & Solutions' at $4.37 billion. The estimate indicates a year-over-year change of +6.6%.

Analysts predict that the 'Revenue- Transaction Processing' will reach $1.88 billion. The estimate indicates a change of +4.4% from the prior-year quarter.

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Over the past month, IBM shares have recorded returns of -5.4% versus the Zacks S&P 500 composite's -6.3% change. Based on its Zacks Rank #3 (Hold), IBM will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>