As customers look to prioritize digital transformation projects, IBM said that it will double down on its focus on AI. Credit: Foundry Strong performances in software and consulting helped IBM’s profit and revenue increase in the first quarter, even as a post-pandemic slowdown hit much of the technology industry. IBM’s software and consulting revenue both rose 3% year over year. In the software segment, IBM’s enterprise Linux unit, Red Hat, saw growth of 8%, while application operations saw the highest level of growth in the consulting segment, rising by 7%. The strong showing from software and consulting help boost total profit by a healthy 26%, to $927 million, and revenue by .4%, to $14.3 billion, for the quarter ending March 31, according to IBM’s earnings report , issued late Thursday. The strong dollar had a negative effect on sales — in term of constant currency, taking out the effect of currency fluctuations, IBM revenue rose by 4%. IBM now receives about three-quarters of its annual revenue from tech services, but the company is seeing some deceleration in consulting from the previous robust growth levels, chairman and CEO Arvind Krishna said on a call with analysts after the results had […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
