Summary by Moomoo AI
IBM Corp reported a solid financial performance for the first quarter of 2024, with revenue increasing to $14.5 billion, a 1.5% rise from the previous year. The company's income from continuing operations saw a significant jump of 68.6%, reaching $1.6 billion, while net income surged by 73.0% to $1.6 billion. Diluted earnings per share from continuing operations rose by 65.7% to $1.69. The company's balance sheet remained strong, with total assets increasing by 1.4% to $137.2 billion, and total equity growing by 3.2% to $23.3 billion. IBM's business development was marked by strategic organizational changes to enhance market alignment and segment comparability. The company's future plans include continued investment in hybrid cloud and AI technologies, with a focus on driving productivity and competitiveness for clients. IBM's commitment to...Show More