Open Demo Account
Home / Market Update / Global Stock Market / IBM Shares Rise About 7% After Results

IBM Shares Rise About 7% After Results

Adel 25 January, 2022 1:15 pm Global Stock Market, Market Update

IBM shares jumped 7% in after-hours trading on Monday, January 24, after the software and services company said revenue jumped 6% in the fourth quarter, beating expectations.

Revenue came in at $16.7 billion, versus analyst expectations of $15.96 billion, according to Refinitiv.

The company showed the fastest revenue growth since the third quarter of 2011.

The net income in the fourth quarter jumped by 72% compared to the same period of the previous year, to $2.33 billion.

IBM CEO Arvind Krishna reiterated the single-digit medium growth target during a conference call with analysts, and said he expects between $10 billion and $10.5 billion in free cash flow for 2022.

IBM recently announced its acquisition of Australian cloud consultancy SXiQ.

Tags

Check Also

Bitcoin’s Bullish Run: A New Era Dawns

Bitcoin, the world’s pioneering cryptocurrency, continues its relentless ascent, nearing the historic $100,000 mark. This …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends