IBM Exceeds Q3 Projections and Raises Outlook Amid AI Growth, Yet Shares Decline
IBM reported stronger-than-expected third-quarter earnings and lifted its full-year revenue forecast, citing significant contributions from artificial intelligence services. However, the company’s stock experienced a downturn in extended trading, contrasting with the upbeat financial performance. AI-related business reportedly surged to over $9.5 billion, highlighting growing enterprise adoption.
IBM’s Strong Quarterly Performance
International Business Machines (IBM) reportedly exceeded Wall Street expectations for the third quarter, according to financial analyses released Tuesday. The technology giant posted revenue growth of 9% year-over-year, reaching approximately $15 billion, while swinging to a profit of $1.74 billion after a loss in the same period last year. Sources indicate that last year’s results were affected by a substantial pension settlement charge of $2.7 billion.
