International Business Machines Corporation (NYSE: IBM) said its third-quarter 2022 revenues increased by 6%. The results also surpassed experts’ predictions.
Reflecting strong performance of the key business segments, the company’s total revenues increased 6% year-over-year to $14.1 billion in the third quarter. The latest number also exceeded the consensus forecast.
Third-quarter adjusted earnings from continuing operations dropped 2% annually to $1.81 per share but topped the estimates. On an unadjusted basis, it was a net loss of $3.21 billion or $3.55 per share, compared to a profit of $1.04 billion or $1.14 per share last year.
Check this space to read management/analysts’ comments on IBM’s Q3 2022 earnings
Shares of IBM closed Wednesday’s trading lower but made strong gains in the after-hours soon after the earnings release. In the past six months, the stock lost around 11%.