IBM Q3 Revenue Growth Accelerates to About 5% as Cash Flow Outlook Rises

IBM’s third-quarter revenue rose about 5% to $17.1 billion, accelerating from 1% growth in the previous quarter as the company raised its annual software and free cash flow outlook. Second-quarter revenue was $17.2 billion, up 1% from a year earlier. IBM’s third-quarter adjusted earnings per share were $2.95, above analyst expectations. IBM raised its full-year software revenue growth guidance to about 7%-8%. It also now expects free cash flow to increase by more than $1 billion year over year, compared with its previous forecast for an increase of about $1 billion.

Source: TokenPost