IBM's second quarter earnings exceeded revenue expectations due to strong demand for AI-related services.
July 25, 2024, 7:00 AM GMT+9 (excerpt)
IBM's second quarter earnings report, released on the 24th, showed revenue of $15.77 billion, surpassing analysts' estimates of $15.62 billion. Strong demand for the company's software and increased customer spending on artificial intelligence (AI) contributed to the profit increase.
The company's stock has risen by about 12% since the beginning of the year.
The software division's revenue was approximately $6.74 billion, a 7% increase. James Cabano, the Chief Financial Officer (CFO), accounts for about 75% of the earnings.
The company's stock has risen by about 12% since the beginning of the year.
The software division's revenue was approximately $6.74 billion, a 7% increase. James Cabano, the Chief Financial Officer (CFO), accounts for about 75% of the earnings.
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