IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss
Publishing timestamp: 2024-04-24 18:09:34
Summary
IBM's first-quarter results beat expectations on bottom line but fell short on revenue. IBM is acquiring cloud software maker HashiCorp for $6.4 billion. The deal is expected to be accretive to earnings and free cash flow. HashiCorp's CEO will report to IBM's senior vice president if the deal goes through. IBM's revenue increased slightly year over year, with revenue misses in three of the last five quarters. IBM shares slipped after the announcement but are up 13% for the year.
Sentiment: MIXED
Keywords: earnings, hashicorp inc, enterprise, business news, international business machines corp, technology, breaking news: technology, breaking news: earnings, business,
Source: https://www.cnbc.com/2024/04/24/ibm-q1-earnings-report-2024-ibm-to-acquire-hashicorp.html