IBM (IBM, Financial) has reported its first-quarter revenue, reaching $14.54 billion and surpassing analysts' predictions of $14.39 billion. This better-than-expected performance was primarily driven by robust demand for its software offerings.
The company highlighted the growing interest in generative AI, which significantly contributed to their success. IBM's cumulative business value has now surpassed $6 billion, marking an increase of over $1 billion within the quarter.
CEO Arvind Krishna expressed optimism about the long-term prospects for both technology and the broader economy, despite acknowledging the volatile nature of the current macroeconomic environment. IBM plans to uphold its full-year forecasts for revenue growth and free cash flow, indicating confidence in sustained performance.
