IBM tops revenue estimates, says it will cut 3,900 jobs
Publishing timestamp: 2023-01-25 18:08:31
Summary
IBM reported quarterly revenue that beat analysts' estimates, driven by higher-than-expected growth in its software and infrastructure segments. The company plans to cut around 3900 jobs, representing 1.5% of its workforce. IBM's software segment posted $7.29 billion, which works out to nearly 3% growth and above $7.12 billion consensus among analysts polled by StreetAccount. IBM outperformed its tech peers in 2022 and was one of only two U.S. tech companies valued at $50 billion or more to notch gains.
Sentiment: POSITIVE
Tickers: AMZN, MSFT, IBM, AVGO, KD,
Keywords: amazon.com inc, technology, business news, enterprise, breaking news: technology, earnings, breaking news: earnings, international business machines corp, microsoft corp, business, kyndryl holdings inc,
Source: https://www.cnbc.com/2023/01/25/ibm-earnings-q4-2022.html