As a dedicated gamer and tech enthusiast with over a decade of experience following IBM’s financial reports, I can’t help but feel elated by today’s Q2 2024 earnings announcement. IBM has consistently been a key player in the tech industry, and its continued success is not only impressive but also reassuring for investors like myself.
IBM, known as one of America’s leading technology firms, recently shared their financial results for the second quarter of 2024. The data surpassed the projected revenue and earnings estimates set by Wall Street, resulting in positive movements for IBM’s stock during after-hours trading.
In Q2 2024, IBM released its financial report after the market’s closure today. With a total revenue of $15.8 billion, the tech giant surpassed the analysts’ projected $15.6 billion. Regarding earnings per share, IBM recorded an impressive $2.43, exceeding the anticipated $2.25.
In simpler terms, IBM’s second quarter was exceptionally robust, surpassing our predictions due to increased revenue and free cash flow. Our clients increasingly rely on IBM for technology and enterprise AI expertise, leading to a generative AI business book valued at over two billion dollars since the introduction of watsonx one year ago. Consequently, we’re increasing our full-year forecast for free cash flow, now anticipating it to exceed $12 billion based on our first-half performance.
IBM’s stock price significantly increased during after-hours trading following the publication of its earnings report. The shares peaked at a value of $192 after their closing price of $184.33 for the day. Keep up with the latest financial developments in tech from Shacknews.
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2024-07-25 00:27