IBM’s cloud business helps first-quarter revenue edge higher
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(REUTERS)
Maria Armental( with inputs from The Wall Street Journal )
The company last week said that the services business it plans to spin off by the end of this year would be called Kyndryl and be based in New York City
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International Business Machines Corp. (IBM) posted higher revenue ahead of a landmark split of the business this year that is part of chief executive Arvind Krishna’s plan to revive growth at the veteran tech company.
IBM on Monday said first-quarter sales rose about 1% to $17.73 billion, generating net income of $955 million. Wall Street on average expected sales of $17.32 billion and net income of $1.28 billion, according to FactSet.