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IBM Shares Jump After Company Reports 6% Revenue Growth in Fourth Quarter

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IBM’s revenue growth accelerated, and the company’s net income jumped in the quarter after the spinout of a major part of its business.

IBM executives have been telling investors of late to look for mid-single digit revenue growth. In the prior quarter, IBM's revenue from continuing operations increased by 2%. The company showed its fastest revenue growth since the third quarter of 2011.

IBM streamlined its reporting segments for the fourth quarter in conjunction with the Kyndryl separation. Its software business, formerly known as Cloud and Cognitive Software, generated $7.27 billion in revenue, up 8% from a year earlier.

 

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