IBM beat estimates with revenue up 5 percent to $17.1 billion. Software revenue rose 8 percent to $7.8 billion. The company kept its full-year growth forecast and lifted its free-cash-flow outlook slightly.
What moved
Software, at $7.8 billion, grew faster than the company as a whole. IBM did not break out an “AI revenue” line in the summary of this report.
Keeping the full-year forecast means the quarter did not force a new guide. The cash-flow outlook moved up only slightly.
A reader who wants the quarter without a slogan pasted on top of it.