10/19/2022, 10:09 PM (Source: TeleTrader)
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Chart for: International Business Machines Corp

IBM's revenue at $14.1B in Q3, up 6% YoY

International Business Machines Corporation announced on Wednesday that its revenue in the third quarter of fiscal 2022 stood at $14.1 billion, increasing 6% compared to the year before, beating analysts' expectations.

The diluted loss per share was 3.55% in the third trimester, while gross profit jumped by 5% year-on-year to reach $7.4 billion. The net loss stood at $3.2 billion for the third quarter of the fiscal year, down from the net income of $1.1 billion a year ago.

"IBM delivered strong revenue growth in the quarter, reflecting our continued focus on the execution of our strategy. Globally, clients view technology as an opportunity to enhance their business, which is evident in the results across our portfolio," said IBM Chairman and Chief Executive Officer Arvind Krishna.

IBM stocks soared by 3.23% in the after-hours trading following the release.

Baha Breaking News (BBN) / AB