News Formal

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.

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
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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 »