IBM’s sales and profits are up for the quarter

IBM has reported a 5% increase in sales for the third quarter.

Arvind Krishna, IBM chairman and chief executive officer, said: “Clients are increasingly adopting our watsonx AI and data platform, along with our hybrid cloud solutions, to unlock productivity and operational efficiency.

“This is helping drive solid growth in our software and consulting businesses. As a result, we remain confident in our revenue and free cash flow growth expectations for the full year.”

Total group revenue was $14.8 billion, up 4.6%.

Software revenue was up 8%, and consulting revenue rose 6%. But infrastructure turnover slumped 2%.

The total group gross profit was $8 billion, up 8% year-on-year.






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