IBM earned 2,241 million euros in the first half, up 19%

This content was published on Jul 19, 2023 – 20:47
July 19, 2023 – 20:47

New York, July 19 (EFE): Technology company IBM on Monday reported accumulated earnings of $2,511 million (€2,241 million) in the first half of 2023, up 19% year-over-year.

In a statement, IBM indicated that its revenues in the first six months of the year amounted to 29,727 million, which is 0.01% less than compared to the same period in 2022.

As for the data for the second quarter, the most followed by Wall Street investors, the company increased its net profit by 13.7% to 1,583 million, although it decreased its sales by 0.38% to 15,475 million.

CEO, Arvind Krishna, attributed the second quarter results again to higher demand for AI and hybrid cloud products.

“Organizations are using AI, hybrid cloud technologies, and our consulting capabilities to transform their operations,” said Krishna.

In its statement, IBM highlighted revenue of $6,600 million from its software segment (7.2% more) and $5,000 million from its consulting services, up 4.3%.

However, the infrastructure sector posted a revenue of 3,600, 14.6% lower.

After knowing the results, IBM shares rose slightly by 0.09% in electronic activities after the stock market closed. EFE

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