IBM shares jump as revenue beats analysts’ estimates
IBM’s push into the hybrid cloud market starts to bear fruit, with its acquisition of Red Hat boosting its cloud and cognitive software division
New York — IBM has reported revenue in the fourth quarter that beat analysts’ estimates, breaking a streak of five consecutive declines as its push into the hybrid cloud market slowly starts to bear fruit. The shares jumped in extended trading.
Sales were $21.8bn in the quarter, up almost 0.1% from the same period a year earlier, the company said in a statement late on Tuesday. Wall Street had forecast $21.6bn...