IBM's consulting business continues to face weak demand for discretionary projects. New AI bookings are growing rapidly, which will help overcome this headwind as revenue is generated.
IBM said on Friday it is able to run a key quantum computing algorithm on commonly available chips from Advanced Micro Devices , in a step toward commercializing super-powerful computers.
IBM reported Q3 revenue of $16.3 billion, up 9% year over year. IBM's AI book of business exceeds $9.5 billion, and management has raised its 2025 guidance.
International Business Machines Corp (NYSE:IBM)'s third quarter earnings report drew mixed reactions from analysts, who highlighted the company's strong AI and infrastructure growth while expressing differing views on software execution. For Q3, IBM reported revenue of $16.33 billion, above Wall Street estimates of $16.09 billion.
Major U.S. equities indexes mostly advanced Thursday as investors monitored China trade developments and digested the latest batch of corporate earnings. The S&P 500 and Nasdaq were higher, while the Dow Jones Industrial Average was little changed.
Tech stock IBM (NYSE:IBM) is down 3.9% to trade at $276.87 at last glance, brushing off the company's third-quarter top- and bottom-line win after software revenue growth showed signs of deceleration.
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