1/24, 10:10 PM (Source: TeleTrader)
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Chart for: International Business Machines Corp

IBM's Q4 net income surges by 107% to $2.5 billion

International Business Machines (IBM) Corporation revealed on Monday that its revenue in the fourth quarter of the fiscal year 2021 observed an annual rise of 6.5% to $16.7 billion. Its net income rocketed by 107% in comparison to the same period the year before to $2.5 billion. In the same period, the company's diluted earnings per share (EPS) surged by 106% to $2.72 per share.

"We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting," the firm's Chairman and Chief Executive Officer (CEO) Arvind Krishna commented. "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."

Following the release of the report, IBM's shares went up by 5.23% in after-hours trading.

Baha Breaking News (BBN) / JR