International Business Machines Corporation (NYSE: IBM) said its fourth-quarter 2022 revenues remained unchanged year-over-year. Meanwhile, the tech giant’s adjusted earnings increased.
Total revenues came in at $16.69 billion, unchanged from the prior-year period. Fourth-quarter adjusted earnings from continuing operations moved up to $3.60 per share from $3.35 per share in the year-ago period. On an unadjusted basis, the net profit was $2.71 billion or $2.96 per share, compared to $2.33 billion or $2.57 per share last year.
Check this space to read management/analysts’ comments on IBM’s Q4 2022 earnings
“Our solid fourth-quarter performance capped a year in which we grew revenue above our mid-single digit model. Clients in all geographies increasingly embraced our hybrid cloud and AI solutions as technology remains a differentiating force in today’s business environment,” said IBM’s CEO Arvind Krishna.
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