IBM's Growth Accelerates. You Can Thank the Mainframe.
International Business Machines (NYSE: IBM) boosted its full-year outlook when it reported its third-quarter results on Wednesday. With the company handily beating analyst expectations for both revenue and earnings, it now sees constant-currency revenue growth of more than 5% and free cash flow of roughly $14 billion. Revenue grew by more than 7% in the third quarter, adjusted for currency.
While there were multiple drivers behind the guidance bump, including a booming AI business and strong software growth, the company's iconic mainframe systems played a significant role.
Image source: Getty Images.
Source Fool.com
International Business Machines Corp Stock
€266.55
-0.300%
The stock is one of the favorites of our community with 25 Buy predictions and 4 Sell predictions.
On the other hand, the target price of 263 € is below the current price of 266.55 € for International Business Machines Corp, so the potential is actually -1.33%.
