IBM's Growth Accelerates. You Can Thank the Mainframe.
International Business Machines (NYSE: IBM) boosted its full-year outlook when it reported its third-quarter results on Wednesday. With the company handily beating analyst expectations for both revenue and earnings, it now sees constant-currency revenue growth of more than 5% and free cash flow of roughly $14 billion. Revenue grew by more than 7% in the third quarter, adjusted for currency.
While there were multiple drivers behind the guidance bump, including a booming AI business and strong software growth, the company's iconic mainframe systems played a significant role.
Image source: Getty Images.
Source Fool.com
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