Scott Peters
20 Apr, 2022
New York City
IBM said first quarter 2022 revenues increased 7.6% to $14.2 billion, net income declined 12.5% to $733 million, and diluted earnings per share fell to 81 cents from $1.06 a year ago. The tech company reported broad improvement in sales led by 12% rise in software division, 13% increase in consulting services, and hybrid cloud revenues rose 14%. Infrastructure segment revenues fell 2%. The company guided 2022 revenues at the high end of the mid-single digit and free cash flow between $10 billion and $10.5 billion.
