'Big blue is back': IBM shares surge on strong results, accelerating AI adoption
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Go back to 'Big blue is back': IBM shares surge on strong results, accelerating AI adoption
January 25, 2024 4:46 AM EST
Stifel analyst David Grossman raised the price target on IBM (NYSE: IBM) to $190.00 (from $183.00) while maintaining a Buy rating.... More
January 24, 2024 4:12 PM EST
By Arsheeya Bajwa
(Reuters) -IBM forecast full-year revenue growth above market estimates on Wednesday, banking on stable demand for its IT software and consultancy services from businesses looking to adopt artificial intelligence (AI).
Shares of the company were up more than 8% in extended trading.
The company will also lay off some employees in 2024 but will hire for more AI-centered roles, an IBM spokesperson said, and will likely end the year with a largely unchanged headcount.
IBM may see a rebalancing charge... More
January 24, 2024 4:09 PM EST
IBM (NYSE: IBM) reported Q4 EPS of $3.87, $0.10 better than the analyst estimate of $3.77. Revenue for the quarter came in at $17.38 billion versus the consensus estimate of $17.23 billion.
Full-Year 2024 Expectations:
Revenue: The company expects constant currency revenue growth consistent...
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