The computing company based in New York state did not talk of job cuts in its quarterly earnings report published Wednesday, however, nor in a call with analysts to discuss the financial results.
This cost is"entirely related" to the spin-off of Kyndryl and the disposal of health data and analysis businesses, an IBM spokesperson told AFP.The more than century-old technology firm reported profit of $2.9 billion in the final three months of last year, some 17 percent higher than the same period in 2021 despite revenue remaining flat at $16.7 billion.
The company founded in 1911 announced late last year that it will invest $20 billion in semiconductors, quantum computing and other cutting-edge technology in New York state. Biden hailed the pledge from the"iconic American company" as another sign that his strategy of rebuilding the US innovative edge is working.
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