IBM (NYSE:IBM) released a report on Monday with fourth-quarter results that beat analysts’ estimates. The revenue figure exceeded forecasts.

The company reported earnings per share of $3.35, with revenues totaling $16.7B. Analysts surveyed by Investing.com had anticipated in forecasts that earnings per share would be $3.3 and total revenue would be $16.09B $

IBM shares were up 6.99% trading at $137.99 in after-hours trading, according to the report.

IBM’s stock price, down 3% this year, has performed better than the S&P Global 100 Index as a whole, falling 5% YTD.

IBM follows the general trend of companies in the Information Technology sector this month

Taiwan Semiconductor reported fourth-quarter earnings of $1.16 on Jan. 13, with earnings of $15.85B, compared to EPS estimates of $1.12 on total revenues of $15.69B

ASML ADR’s earnings beat analysts’ expectations on Wednesday for the fourth quarter, with quarterly EPS of $4.98 on total revenue of $5.66B $ Analysts at Investing.com had previously predicted EPS of $4.25 on total revenue of $5.85B $