IBM shares fall in after-hours trading after reporting third-quarter results above expectations
IBM International Business Machines Corp
$252.11 +0.26%
View chart & analysis → - 1IBM recorded a third-quarter net income of $2.19 billion, surpassing the previous year's net income of $1.74 billion.
- 2IBM software revenue for the third quarter grew 8% year-over-year to $7.8 billion, exceeding market expectations.
- 3AI accounted for approximately 30% of IBM consulting revenue this quarter as it becomes embedded in widespread customer transformations.
So what's the key point?
IBM's software revenue and net income both came in higher than what experts expected. However, the stock price fell in after-hours trading following the earnings announcement.
Source CNBC +2 · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.