IBM Beats Wall Street Expectations With Strong Q4 Earnings and Revenue Growth, Shares Surge 10%

Benzinga

IBM reported better-than-expected fourth-quarter earnings and revenue, surpassing Wall Street’s earnings per share estimate. IBM's software segment grew 10% due to strong demand for AI technology and its Red Hat Linux operating system. IBM CEO Arvind Krishna announced that the company secured significant bookings for its generative AI business, encompassing current and future sales in its software and consulting divisions. Shares rose 10% in after-hours trading.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02IBM reported better than expected fourth quarter earnings and revenue,

00:06surpassing Wall Street's earnings per share estimate.

00:09IBM's software segment grew 10% due to strong demand for AI technology

00:14and its Red Hat Linux operating system.

00:16IBM CEO Arvind Krishna announced that the company secured significant bookings for its

00:21generative AI business, encompassing both current and future sales in its software and consulting

00:27divisions. Shares rose 10% in after-hours trading.

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