16 days ago • Posted by William Ramstein
IBM shares jump as revenues show largest growth since 2018!
Sales increased 1% to $17.7 billion in the three months ended Mar. 31. The shares increased as much as 4.9% in late trading, after closing at $133.12 in New York. Revenue from Red Hat, which IBM bought in 2019 for $34 billion, gained 17% in the first quarter. Earnings excluding some costs were $1.77 a share, beating the average analyst estimate of $1.65.