IBM Beats Estimates, Ekes Out Revenue Growth on Cloud
This article is for subscribers only.
International Business Machines Corp. reported revenue in the fourth quarter that beat analysts’ estimates, breaking a streak of five consecutive declines as its push into the hybrid cloud market slowly starts to bear fruit. The shares jumped in extended trading.
Sales were $21.8 billion in the quarter, up almost 0.1% from the same period a year earlier, the Armonk, New York-based company said in a statement Tuesday. Wall Street had forecast $21.6 billion.