IBM Exceeds Q3 Earnings Expectations with AI-Driven Growth
IBM outperformed Wall Street projections with third-quarter earnings of $2.65 per share and revenue of $16.33 billion, marking a 9% year-over-year increase. The tech giant's net income rebounded to $1.74 billion, a stark contrast to last year's $330 million loss, which included pension settlement charges.
CEO Arvind Krishna highlighted accelerating AI adoption, revealing the company's AI business book surged to $9.5 billion from $7.5 billion in Q2. "Clients globally are leveraging our technology to drive productivity and deliver tangible business value through AI," Krishna stated, while raising full-year revenue growth guidance to over 5% from "at least" 5%.
The earnings beat comes as IBM intensifies its automation push, having replaced 200 HR roles with AI tools earlier this year. While AI initiatives boost efficiency, Core business segments continue facing market pressures.
