IBM shares jump on earnings and revenue beat

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

News News

Business Business Latest News,Business Business Headlines

IBM reported better-than-expected results for the second quarter, and the company said it’s seeing more business tied to generative artificial…

IBM's revenue and adjusted earnings per share were higher than expected.$15.77 billion vs. $15.62 billion expected, according to LSEG.. Net income of $1.83 billion, or $1.96 per share, was up from $1.58 billion, or $1.72 per share, a year earlier.

The company's book of business for generative artificial intelligence now stands above $2 billion, CEO Arvind Krishna was quoted as saying in the statement. The number wasIBM said its software business brought in revenue of $6.74 billion, up 7% and more than the StreetAccount consensus of $6.49 billion.

IBM's infrastructure segment that contains mainframe computers posted $3.65 billion in revenue, up 0.8% and higher than the $3.51 billion consensus.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM earnings preview: Analysts highlight key points ahead of Q2 printIBM earnings preview: Analysts highlight key points ahead of Q2 print
Source: Investingcom - 🏆 450. / 53 Read more »