Technology

IBM with Mega Surprise: Increase in Revenue and Profit

IBM's strategy change successful: Focus on software and services delivers positive results.

International Business Machines
266.71USD
+0,12 (+0,05 %)
Eulerpool News Jan 25, 2024, 12:00 PM

IBM increased revenue in the past quarter by four percent to $17.4 billion and recorded a profit increase from $2.7 to $3.3 billion compared to the previous year. These positive numbers are the result of the computer company's focus on software and services, which are now paying off.

This development caused euphoria among investors, which temporarily caused IBM shares to rise by over five percent in after-hours trading. In the software and consulting business division, IBM was able to achieve growth in the last quarter, as announced by the company after US stock market close on Wednesday.

The company also gave optimistic forecasts for the current year and indicated further growth in revenue. The IBM stock reacted to this news and briefly traded 8.32 percent higher at $188.40 in after-hours NYSE trading.

The strategy of focusing on software and services has proven successful for IBM. Through constant adaptation to the changing market, the company has managed to remain at the forefront of the technology industry and increase profits.

With a focus on software and services, IBM has strengthened its competitiveness in recent years and positioned itself well for the future. The positive quarterly results confirm this strategy and demonstrate that this path will continue to be successful.

Investors hold on to IBM shares in the face of this positive development, which continues to represent a promising investment opportunity. The recent figures and forecasts are evidence of the strength and potential of the company, which will also establish itself as a leading player in the technology industry in the future.

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