INSTANT VIEW: IBM Q1 rev disappoints, Texas Instruments solid

NEW YORK/BOSTON (Reuters) - IBM disappointed investors on Monday with lackluster quarterly revenue, but Texas Instruments afforded the market some cheer with a solid sales performance.

IBM reported a bigger-than-expected 11 percent fall in quarterly sales, showing that even one of the healthier U.S. technology companies is getting hurt by a slowdown in corporate spending. Shares in the firm slid more than 3 percent in after-hours trade.

In contrast, Texas Instruments posted better than expected revenue as demand for its chips seemed to stabilize. Its stock inched upward after the bell.

COMMENTARY ON TEXAS INSTRUMENTS

ASHOK KUMAR, ANALYST, COLLINS STEWART

"It appears that the industry and TI in particular are putting in a bottom for the March quarter.

"The big primary structural headwind for the company is the wireless market and we think the revenue will stabilize at these depressed levels and find its way back."

ADAM BENJAMIN, ANALYST, JEFFERIES & CO.

"Obviously the revenue came in a little bit higher. We had thought it was going to be coming in at the higher end at $1.95 (billion) so $2.09 was better than what anyone I was talking to had indicated or thought.