IBM Corp reported a solid financial performance for the second quarter of 2024, with revenue increasing to $15.8 billion, a 1.9% rise from the previous year. The company's income from continuing operations saw a significant 15.8% increase to $1.8 billion, while net income also rose by 15.9% to $1.834 billion. Diluted earnings per share from continuing operations grew by 14.0% to $1.96. Adjusted for currency, the year-to-year revenue growth was 3.8%. IBM's gross profit margin improved by 1.8 points to 56.8%, reflecting the company's focus on high-value segments. The operating (non-GAAP) earnings were $2.3 billion, with a diluted operating (non-GAAP) earnings per share of $2.43, marking an 11.5% increase. The company's cash flow remained strong, with $2.1 billion generated from operations and $2.6 billion in free cash flow...Show More

IBM Corp reported a solid financial performance for the second quarter of 2024, with revenue increasing to $15.8 billion, a 1.9% rise from the previous year. The company's income from continuing operations saw a significant 15.8% increase to $1.8 billion, while net income also rose by 15.9% to $1.834 billion. Diluted earnings per share from continuing operations grew by 14.0% to $1.96. Adjusted for currency, the year-to-year revenue growth was 3.8%. IBM's gross profit margin improved by 1.8 points to 56.8%, reflecting the company's focus on high-value segments. The operating (non-GAAP) earnings were $2.3 billion, with a diluted operating (non-GAAP) earnings per share of $2.43, marking an 11.5% increase. The company's cash flow remained strong, with $2.1 billion generated from operations and $2.6 billion in free cash flow. IBM's strategic focus on hybrid cloud and AI continued to drive growth, with Software and Infrastructure leading the revenue increase. The company's future plans include further investments in innovation and expertise across the portfolio, as well as strategic acquisitions like the recent completion of StreamSets and webMethods from Software AG. IBM also announced its intent to acquire HashiCorp, aiming to close the deal by the end of 2024.