IBM Reports Higher 4Q Profit, Revenue
24 Gennaio 2022 - 10:48PM
Dow Jones News
By Maria Armental
International Business Machines Corp. reported higher profit and
a 6.5% revenue increase in the latest period,
Fourth-quarter profit rose to $2.33 billion from $1.36 billion a
year earlier. On a per-share basis, profit rose to $2.57.
Revenue rose to $16.7 billion from $15.68 billion a year
earlier, ahead of analysts' projected $15.96 billion.
The company ended the year at a $5.74 billion profit on $57.35
billion in revenue, compared with a 2020 profit of $5.59 billion
and $55.18 billion in revenue.
Chief Executive Officer Arvind Krishna said when IBM reported
third-quarter results that a spending pause from customers had
affected mostly hardware and Kyndryl, the tech services company
that IBM spun off in November.
On Monday, Mr. Krishna pointed to the revenue growth, saying
that hybrid cloud adoption drove growth in software and
consulting.
"Our fourth-quarter results give us confidence in our ability to
deliver our objectives of sustained mid-single digit revenue growth
and strong free cash flow in 2022," Mr. Krishna said.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 24, 2022 16:33 ET (21:33 GMT)
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