IBM attributed the strong performance to the growing adoption of hybrid cloud solutions with its artificial intelligence and data platform WatsonX. Arvind Krishna, Chairman and CEO of the company, has seen significant growth in the software and consulting segments.
IBM software sales reached $6.3 billion, up 7.8% from the same quarter last year and beating Wall Street forecasts. The company also saw consulting revenue rise 5.6% year over year to $4.9 billion.
Despite the overall challenges facing the technology sector, IBM’s positive performance and ongoing productive AI initiatives position the company well for the future.
Source: Ferra
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