IBM (IBM) Shares Up 6% Following Strong Q4 Results

IBM (NYSE: IBM) shares were trading more than 6% higher after-hours following the company’s reported Q4 results, with EPS coming in at $3.35, beating the consensus estimate of $3.14.

Quarterly revenue grew 6.5% (or 8.6% at constant currency) to $16.7 billion, compared to the consensus estimate of $15.98 billion, with hybrid cloud adoption driving growth in software and consulting. Software revenue grew 8.2% (or 10.1% at constant currency) to $7.3 billion, Consulting revenue grew 13.1% (or 15.7% at constant currency) to $4.7 billion, and Infrastructure revenue was down 0.2% (or up 1.7% at constant currency) to $4.4 billion.

According to James Kavanaugh, IBM senior vice president and CFO, the company increased R&D spending, expanded its ecosystem and acquired 15 companies to strengthen its hybrid cloud and AI capabilities in 2021.

The company will discuss its full 2022-year outlook during today’s quarterly earnings conference call.

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