International Business Machines Corp. topped profit expectations for its latest quarter Wednesday, while sporting double-digit revenue growth in its two crucial business categories of Red Hat and data and artificial intelligence.
The company generated second-quarter net income of $1.6 billion, or $1.72 a share, compared with $1.4 billion, or $1.53 a share, in the year-earlier quarter. IBM recognized a 7% boost in software revenue, a 4% bump in consulting revenue and a 15% decline in infrastructure revenue.
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IBM has been talking up AI, but here's what investors should really focus on in earningsIBM may be hitching to the AI bandwagon with WatsonX but analysts are more interested in Big Blue's growth at Red Hat.
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