Press "Enter" to skip to content

IBM disappoints investors with quarterly figures

The IT veteran IBM has disappointed investors with its latest quarterly figures. The share temporarily lost around five percent in after-hours trading on Wednesday. IBM reported a 0.3 percent increase in sales at $ 17.6 billion. At the same time, the group emphasized that it would be a plus of 2.5 percent if you count out the figures for a sub-area focused on infrastructure that is to be sold under the name Kyndryl in November.

The bottom line was the year-on-year profit fell by a third to $ 1.1 billion (940 million euros). The cost of separating from Kyndryl came in at $ 500 million.

In the service and consulting division, sales rose 11.6 percent to $ 4.4 billion last quarter. The area with cloud services and artificial intelligence increased revenues by 2.5 percent to $ 5.7 billion. In the division, which includes hardware and servers, sales fell by almost twelve percent to $ 1.1 billion.


Article Source

Disclaimer: This article is generated from the feed and not edited by our team.