IBM: Share Price Drop Despite Profit Surge!
Reading Time: 2 minutes
Both revenue and profitability, as well as free cash flow, exceeded analysts' expectations. Revenue rose by 0.6% to $14.5 billion. Although net profit decreased to $1.06 billion ($1.61 billion in the same quarter last year), it also surpassed estimates. Free cash flow amounted to $2 billion. Particularly, the software business contributed to these surprising figures. Revenues in this segment increased by 7% to $6.3 billion. In the hybrid cloud software sector, which includes Red Hat, revenue grew by 12%. IBM reported declining revenues for its consulting...
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