Ginni Rometty, Chairwoman, President and CEO of IBM, at the World Economic Forum in Davos, Switzerland.

David A. Grogan | CNBC

Ginni Rometty, Chairwoman, President and CEO of IBM, at the World Economic Forum in Davos, Switzerland.

IBM saw its biggest stock jump in eight years in early trading Wednesday following an after-the-bell earnings beat on Tuesday.

The stock was up 9 percent in morning trading, the largest jump since a 11.5 percent spike in January 2009. Shares were trading above $159 Wednesday morning.

IBM revenue has declined for 22 straight quarters, but shareholders seemed encouraged by higher-than-expected adjusted earnings per share of $3.30.

Shares closed at $146.54 Tuesday and rose 5 percent in after-hours trading.

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