BUZZ - IBM shares fall before the opening, despite optimistic performance, as growth outlook fails to meet market expectations for stronger gains

October 22 - ** Although International Business Machines Corp IBM.N raised (link) its annual software revenue forecast and reported better-than-expected third-quarter results, its share price still fell about 6% in premarket trading.

** As delayed deals that unsettled investors last quarter are now being closed, the company currently expects its annual software revenue growth rate to rise from the previous 6%-8% to about 7%-8%.

** “IBM did not provide much additional upside in its outlook. This may curb short-term enthusiasm for the stock, but it is likely the right strategy in order to deliver upside surprises in the future,” — Barclays analyst

** According to data compiled by London Stock Exchange Group (LSEG), third quarter revenue grew 4.7% to $17.10 billion, above the expected $16.82 billion; adjusted earnings per share (EPS) was $2.95, exceeding the expected $2.86.

** So far this year, the stock has fallen about 15.1% in total, underperforming the S&P 500 Index .SPX, which rose about 13.3%.

(To facilitate non-native English speakers, Reuters has automated the translation of its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translation and provides it for readers' convenience only. Reuters accepts no liability for any damage or loss arising from the use of this automated translation feature.)