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reported third-quarter results that topped Wall Street estimates and lifted its guidance, citing ongoing artificial intelligence tailwinds. Still, the stock dropped 5% in extended trading.
Here’s how the company performed versus LSEG estimates:
Revenue increased 9% from about $15 billion in the year-ago period, IBM said. The company reported net income of $1.74 billion, or $1.84 per share, after recording a loss of $330 million, or 36 cents per share, a year earlier. The results from last year included the impact of a $2.7 billion pension settlement charge.
“Clients globally continue to leverage our technology and domain expertise to drive productivity in their operations and deliver real business value with AI,” CEO Arvind Krishna said in release.
