IBM Gains Most in a Decade After Surprisingly Positive Results
- Fourth-quarter revenue, earnings beat analysts’ estimates
- IBM Reports ‘Cleanest Quarter in Years,’ Morgan Stanley Says
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International Business Machines Corp. shares rose the most in a decade after the company gave a positive forecast for 2019 and fourth-quarter results beat analysts’ estimates, led by its business that helps companies and governments manage their technology.
Chief Executive Officer Ginni Rometty has been touting IBM’s newer offerings in the cloud and artificial intelligence as agents for growth. But in the past year, increases have come from more traditional markets instead. IBM’s consulting business flipped from declines into growth in the period ended Dec. 31, with revenue gaining 4 percent to $4.3 billion in the Global Business Services unit from the period a year earlier.