IBM tops quarterly estimates on hybrid cloud growth
Source: CNA
Published on: 2026-04-22 20:22
April 22 : IBM beat first-quarter profit estimates on Wednesday as artificial intelligence adoption boosted demand for its software services used for managing large amounts of data and automating IT processes. However, shares of the company were down about 6 per cent in extended trading. Enterprise demand for generative AI and hybrid cloud, which lets companies run applications and store data across their own data centers and public clouds, is surging as businesses automate workflows. IBM's software segment, anchored by its high-margin hybrid cloud unit Red Hat, and a suite of AI tools under the Watsonx brand, grew 11.3 per cent in the first quarter. Big Blue's infrastructure segment, which includes its mainframe computers, has been a bright spot for over a year, as adoption of the latest generation, z17, continues. Revenue in the segment grew 15.2 per cent to $3.33 billion in the qu...
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