On Monday afternoon, IBM reported Q1 revenue of $17.57 billion (down 3% annually) and non-GAAP EPS of $1.84 (down 18%). Revenue, which both benefited from IBM's $34 billion acquisition of open-source software giant Red Hat and was hurt by asset sales, was nearly in-line with a consensus analyst estimate of $17.59 billion. EPS slightly beat a $1.81 consensus.