The Clap
IBM (NYSE: IBM) recorded EPS of $1.81 and revenues of $14.11 billion, beating analysts’ expectations on both top and bottom lines.
The Deets
The company’s revenue saw a YoY increase of 6.5%. The strong results also drove the company to raise its revenue growth forecast for 2022.
IBM expects that the foreign exchange rate would result in 7% less in revenue for the full year. Nevertheless, the company still believes that revenue will grow by the end of 2022.
Related News
IBM announced the acquisition of Dialexa, a consulting firm, and Databand.ai, a software startup.
Why this Matters
Following the strong earnings and increased forecast, IBM’s stock is up around 4% after hours.
