International Business Machines (IBM) reported third quarter earnings that beat analyst estimates. IBM reported adjusted earnings of $2.20 per share versus Wall Street estimates of $2.12. Revenue of $14.75 billion was better than the expected $14.68 billion. IBM Chairman and CEO Arvind Krishna credits customers' adoption of watsonx AI as part of the reason for the earnings beat. Yahoo Finance Live breaks down the report. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
International Business Machines (IBM) reported third quarter earnings that beat analyst estimates. IBM reported adjusted earnings of $2.20 per share versus Wall Street estimates of $2.12. Revenue of $14.75 billion was better than the expected $14.68 billion. IBM Chairman and CEO Arvind Krishna credits customers' adoption of watsonx AI as part of the reason for the earnings beat. Yahoo Finance Live breaks down the report.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Reuters
IT software and consultancy services provider IBM reported third-quarter revenue slightly above Wall Street targets on Wednesday, buoyed by stable demand for its software solutions and a stronger-than-expected mainframe business. While the company has seen a slowdown in the growth of its overall business compared to last year, it reiterated its annual target for revenue growth and free-cash-flow generation. IBM's generative artificial intelligence (AI) book of business, which could refer to a combination of actual sales as well as bookings, was in the “low hundreds of millions of dollars” during the third quarter, with customers including accounting firm Ernst & Young, IBM Chief Financial Officer James Kavanaugh told Reuters.
The Wall Street Journal
International Business Machines shares edged higher in after-hours trading after the company reported revenue growth in the latest quarter that came in above Wall Street expectations. The company posted revenue growth across most of its segments with software leading the way, while infrastructure recorded the only decline.
Barrons.com
IBM third-quarter earnings edged Wall Street estimates, and its CEO says the company’s push into artificial intelligence is starting to pay off. Results were marked by continued solid growth in software, moderating expansion of the consulting business, and better-than-expected performance by the IBM’s mainframe business. The company also confirmed its previous full-year guidance for revenue and cash flow growth.
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