Reported about 19 hours ago
IBM has exceeded fourth-quarter profit estimates thanks to strong demand in its software unit, as businesses increase IT spending, leading to a nearly 10% rise in shares during after-hours trading. The company reported its largest revenue increase in five years for the software segment, driven by cloud infrastructure investments amid the growing adoption of generative AI technology. While total revenue remained stable at $17.55 billion, software sales rose over 10%, positioning IBM favorably for future growth.
Source: YAHOO