IBM Reports Better-Than Expected Results

IBM


reported better-than-expected third-quarter results, with growth across all of the company’s business segments, despite stiff headwinds from a strong dollar.

For the quarter, IBM (ticker: IBM) reported revenue of $14.1 billion, up 6%, or 15% in constant currency, well above the Wall Street consensus forecast of $13.5 billion. Excluding the revenue contribution from


Kyndryl


(KD), the company’s former managed data services business, revenue in constant currency grew 10%.