IBM’s profits, revenues beat expectations

IBM’s adjusted earnings for the third quarter of 2023 rose to $2.20 per share, versus expectations issued by the “Street Account” market research firm, which indicated $2.13 per share.

The company’s revenues rose in the same period to $14.75 billion, compared to expectations which indicated $14.73 billion.

The markets’ direct reaction to the rise in the company’s profits and revenues to levels higher than expectations was that IBM shares rose by about 1.00% at the close of Wall Street trading on Wednesday.

The company’s revenues witnessed an increase of 4.6% on an annual basis, that is, compared to the performance recorded in the same period last year. The company’s net income also increased by about $1.70 billion in the quarter ending last September 30, compared to losses the company suffered in the same period last year of $3.20 billion.

The company expected an increase in revenue growth between 3.00% and 5.00% and the provision of liquidity flows worth $10.5 billion. The company succeeded in managing $5.12 billion in liquidity flows in the past nine months of this year.