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IBM shares jump on earnings and revenue beat

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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.

 

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