IBM shares rise after earnings top estimates in ‘uncertain, volatile’ economy
Publishing timestamp: 2024-01-24 18:30:14
Summary
IBM exceeded expectations in its fourth-quarter results, with higher earnings per share and revenue than expected. The company also reported increased net income and free cash flow. IBM's shares rose by 8% after the announcement. The company plans to acquire two software assets and saw growth in its distributed infrastructure category. IBM's CEO also mentioned the growth of their generative AI and Watsonx products. The company provided guidance for 2024, expecting $12 billion in free cash flow and mid-single digit revenue growth.
Sentiment: POSITIVE
Tickers: IBM,
Keywords: business, breaking news: earnings, enterprise, earnings, international business machines corp, breaking news: technology, technology, business news,
Source: https://www.cnbc.com/2024/01/24/ibm-q4-earnings-report-2023.html