IBM's stock jumped 8% in extended trading after the company reported a robust fourth quarter earnings report, with revenue rising to $19.69 billion and exceeding expectations of $19.21 billion. A 12% overall revenue growth was driven by a significant 14% increase in the software division, while the mainframe business showcased its best performance in over 20 years. Following this encouraging news, Bank of America raised its price target for IBM, reflecting heightened investor confidence in the company's trajectory.
“IBM stock · surged · 8% · after growth in the company's software business”
“IBM · reported revenue growth · of 12% · for the fourth quarter”
“IBM · stock surged · 8% · after growth in its software business”
“IBM · revenue increased · $19.69 billion · for the fourth quarter”
“IBM · stock surged · 8% in extended trading · after growth in the company's software business drove 12% revenue growth”
“IBM · revenue increased · $19.69 billion · beating forecasts of $19.21 billion”
“IBM · surged · 8% · in extended trading after growth in the company's software business”
“IBM · reported · revenue increased · to $19.69 billion”
“IBM · software revenues · increase · 14%”
“IBM · stock increase · over the past 12 months · over 40%”
“IBM · performance · strong · incredibly”
“IBM · stock price · tripled · since late 2022”
