IBM is benefiting from surging interest in artificial intelligence and a potential rebound in IT spending over 2024 after some weakness following the Covid-19 pandemic.
Computing behemoth IBM is slated to report its Q3 2023 results on October 25 reporting on a quarter that is likely to have seen IT spending remain lackluster.
The company's software and consulting businesses rose 6% and 8.2%, respectively, at constant currency in the first quarter, in line with IBM's targets.
SAN FRANCISCO, Jan 25 ― IBM yesterday beat Wall Street estimates for revenue in the fourth quarter, as its focus on the cloud paid off in Big Blue's first earnings after exiting the slow-growing managed infrastructure business. Shares of the IT giant jumped as much as 7 per cent aftermarket.