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Why IBM Stock Rose Today

TheMotleyFool

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Shares of International Business Machines (NYSE: IBM) climbed on Tuesday, following the release of the technology giant's second-quarter results. As of 2:05 p.m. EDT, IBM's stock price was up more than 1% after rising as much as 5% earlier the day.

IBM's revenue rose 3% year over year to $18.7 billion, fueled by a 6% rise in its cloud and cognitive software sales and a 12% jump in its business services revenue. "We continued to help clients infuse our AI-based technology offerings into their core business workflows," IBM CEO Arvind Krishna said in a press release.

Investors cheered IBM's second-quarter growth metrics. Image source: Getty Images.

Source Fool.com

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