2024-01-25 20:39:27
International Business Machines (IBM)an iconic American company in the computer sector, registered a net profit of U$7,502 million in 2023which means multiply by 4.5 the result of U$1,639 million recorded by the multinational the previous year, which it attributed to the increase in demand for Artificial Intelligence (AI) and hybrid cloud.
According to the president and CEO of the technology company, Arvind Krishna: “In the fourth quarter, we increased revenue by all our segments, driven by continued adoption of our hybrid cloud and AI offerings. Customer demand for AI if you are accelerating and our pipeline for Watsonx and generative AI approximately doubled from Q3 to Q4.”
The turnover of ‘Big Blue’ for the year as a whole reached U$61,860 million2.2% above the revenue recorded in 2022.
IBM managed to profit from AI, reaching record numbers in 2023
The billing IBM grew 5% in the software business, to US$26,308 million and 4.6% in the consulting area, to US$19,985 million, while revenue from the infrastructure business decreased 4.5%, to US$19,985 million. $14,593 million.
In between October and DecemberIBM obtained a net profit of U$3,288 million, 21.3% above the result recorded in the same period of 2022, while its billing grew by 4.1%, to U$17,381 million.
Likewise, IBM ended the fourth quarter with $13.5 billion in cash and marketable securities, $4.6 billion more than at the end of 2022, while debt amounted to $56.5 billion, an increase of $5.6 billion from the end of 2022.
Looking to 2024, the company anticipates a Steady revenue growth around 5%, although he warned that at current exchange rates, the currency is expected to represent a one-point headwind to revenue growth. Likewise, he expects to reach around U$12 billion in free cash flow.
At the close of this note, IBM shares were trading at a price of 190.03, jumping 9.26% compared to the previous day.
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