{"id":76810,"date":"2023-10-25T20:27:44","date_gmt":"2023-10-26T00:27:44","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ibms-stock-rises-after-earnings-beat-company-says-ai-adoption-is-growing\/"},"modified":"2023-10-25T20:27:48","modified_gmt":"2023-10-26T00:27:48","slug":"ibms-stock-rises-after-earnings-beat-company-says-ai-adoption-is-growing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76810","title":{"rendered":"IBM\u2019s stock rises after earnings beat, company says AI adoption is growing"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002657219\" role=\"document\">\n<p>International Business Machines Corp.\u2019s stock rose 2% in the extended session Wednesday after the company notched a large profit beat and called out growing adoption of its artificial-intelligence offerings. <\/p>\n<p>The company logged third-quarter net income of $1.7 billion, or $1.84 a share, whereas IBM recorded a net loss of $3.2 billion, or $3.54 a share, in the year-earlier period. On an adjusted basis, IBM<br \/>\n        IBM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203856914\/composite\" class=\"negative\">-0.52%<\/bg-quote><br \/>\n       earned $2.20 a share from continuing operations, beating the FactSet consensus, which was for $2.12 a share. <\/p>\n<div class=\"paywall\">\n<p>Revenue grew to $14.8 billion from $14.1 billion, while analysts were modeling $14.7 billion. The company saw an 8% increase in software revenue, 6% growth in consulting revenue, and a 2% drop in infrastructure revenue. <\/p>\n<p>\u201cClients are increasingly adopting our watsonx AI and data platform along with our hybrid cloud solutions to unlock productivity and operational efficiency,\u201d Chief Executive Arvind Krishna said in a release. \u201cThis is helping drive solid growth in our software and consulting businesses. As a result, we remain confident in our revenue and free cash flow growth expectations for the full year.\u201d<\/p>\n<p><strong>Read:<\/strong> Among the S&amp;P 500, these 20 companies have made the best use of investors\u2019 money<\/p>\n<p>IBM posted 9% growth in Red Hat revenue within its software business, and the company noted that revenue from data and AI increased 6% in that segment. <\/p>\n<p>For the full year, IBM still anticipates 3% to 5% growth in revenue on a constant-currency basis. The company is also looking for about $10.5 billion in free cash flow, consistent with its prior forecast.<\/p>\n<p>IBM generated $1.7 billion in free cash flow during the third quarter.<\/p>\n<p><strong>See also: <\/strong>Dividend stocks are dirt cheap. It may be time to back up the truck.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/ibms-stock-rises-after-earnings-beat-company-says-ai-adoption-is-growing-807064a7?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>International Business Machines Corp.\u2019s stock rose 2% in the extended session Wednesday after the company notched a large profit beat and called out growing adoption of its artificial-intelligence offerings. The company logged third-quarter net income of $1.7 billion, or $1.84 a share, whereas IBM recorded a net loss of $3.2 billion, or $3.54 a share, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":76811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-76810","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IBM\u2019s stock rises after earnings beat, company says AI adoption is growing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"International Business Machines Corp.\u2019s stock rose 2% in the extended session Wednesday after the company notched a large profit beat and called out\" \/>\n<meta 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