Company Of The Day: IBM

October 21st, 2022 by Trefis Team
-9.74%
Downside
223
Market
202
Trefis
IBM: International Business Machines logo
IBM
International Business Machines

What?

IBM (NYSE:IBM) posted a stronger-than-expected set of Q3 2022 results, with revenue growing by 6% year-over-year to $14.1 billion and adjusted earnings per share coming in at $1.81.

Why?

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Growth was driven primarily by the company’s software and infrastructure business. Software sales rose by over 7.5% to $5.8 billion, while infrastructure sales jumped 15%, led by the first full quarter of sales of the new z16 generation of mainframes.

So What?

IBM stock was up by about 4.5% in Thursday’s trading.

See Our Complete Analysis For IBM

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