IBM's third-quarter revenue increased by 9% to $16.3 billion.

IBM's Remarkable Revenue Growth

The American technology giant IBM has announced its financial report for the third quarter of this year. According to the report, the company’s revenue reached $16.3 billion, marking a 9% increase compared to the same period last year. In the third quarter of last year, IBM had generated $15 billion in revenue.

Improvement in Net Profit

In the third quarter of 2022, IBM reported a $330 million net loss, while in the corresponding period of this year, it reported a profit of $1.7 billion. Earnings per share were recorded at $1.84; in the previous year, the company had faced a loss of 36 cents per share.

Performance Above Market Expectations

IBM's revenue and profit exceeded market expectations. The company aims for a revenue growth of over 5% for 2025 and approximately $14 billion in free cash flow by the end of the year.

Strong Performance in Artificial Intelligence

IBM CEO Arvind Krishna emphasized that the company accelerated across all segments in its third-quarter performance. He noted that customers worldwide continue to leverage IBM’s technology and expertise to enhance operational efficiency and create value through artificial intelligence. Additionally, it was reported that the company's artificial intelligence business volume exceeds $9.5 billion.