IBM software sales up 8% as the company beats on top and bottom lines

📆 25/10/2023 22:17:00
📰 nbcchicago

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IBM reiterated its revenue and profit forecast for the full year, having completed its acquisition of cloud cost management software maker Apptio in August.

To reach its target for 2023, the company must now generate $5.4 billion in free cash flow in the fourth quarter, more than what it has picked up for the first nine months of this year.Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyIBM's overall revenue grew 4.6% year over year in the quarter, or 3.5% at constant currency, according to a statement. Net income reached $1.70 billion, or $1.

IBM's Consulting division generated $4.96 billion in revenue, up around 6% but lower than StreetAccount's consensus of $5.11 billion. Accenture said last month that revenue from communications, media and technology clients was down 12% in the August quarter.UAW appears to be moving toward a potential deal with Ford that could end strike

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IBM Extends Watson.x Enterprise-Safe AI with Manta AcquisitionSteve McDowell is principal analyst and founding partner at NAND Research. Steve is a technologist with over 25 years of deep industry experience in a variety of strategy, engineering, and strategic marketing roles, all with the unifying theme of delivering innovative technologies into the enterprise infrastructure market.
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