Welcome to our dedicated page for International Business Machines Corporation news (Ticker: IBM), a resource for investors and traders seeking the latest updates and insights on International Business Machines Corporation stock.
International Business Machines Corporation (IBM), known as Big Blue, is an American multinational technology leader headquartered in Armonk, New York, and operates across over 175 countries. IBM is a cornerstone in the realm of enterprise IT, offering an extensive range of products and services including software, IT services, consulting, and hardware solutions. Employing around 350,000 people and collaborating with 80,000 business partners, IBM serves approximately 5,200 clients worldwide, encompassing 95% of the Fortune 500 companies.
IBM's influence extends far beyond its B2B operations. The company oversees 90% of credit card transactions globally and is responsible for half of the world's wireless connections. This significant footprint underscores IBM's pivotal role in global business and technology.
Recent developments highlight IBM's ongoing innovation and leadership. For example, the company announced its first-quarter 2024 earnings results, showcasing strong revenue and free cash flow growth, driven by its hybrid cloud and AI strategy. The acquisition of HashiCorp is expected to bolster IBM's capabilities in managing application and infrastructure complexity, creating a robust hybrid cloud platform for the AI era.
IBM is also making notable strides in sustainability. The IBM 2023 Impact Report outlines the company's commitment to environmental and societal goals, leveraging technology like AI to address these challenges. IBM aims to achieve operational net zero GHG emissions by 2030, utilizing AI-powered tools to optimize energy consumption across its facilities.
The company is expanding its software portfolio's global availability on AWS Marketplace, making it easier for clients in 92 countries to procure and deploy IBM solutions. This expansion is part of IBM's strategy to enhance digital transformation for its clients.
IBM's dedication to innovation and sustainability is further evidenced by its partnerships with the Canadian and Quebec governments to advance semiconductor research and development, significantly boosting the region's tech sector.
Overall, IBM remains a formidable force in the tech industry, consistently pushing the envelope in AI, hybrid cloud, and sustainable practices, ensuring its clients and partners can navigate and thrive in the ever-evolving technological landscape.
IBM reported a third-quarter revenue of $17.6 billion, a 0.3% increase year-over-year. Adjusted for divestitures and currency, revenue fell by 0.2%. Key segments showed growth: Cloud & Cognitive Software grew 3%, while Global Business Services jumped 12%. Adjusted free cash flow reached $11.1 billion. However, net income decreased by 19% year-over-year to $3.4 billion, impacted by Kyndryl separation costs. The company reduced debt by $7 billion since 2020, reflecting a stronger balance sheet.
IBM announced plans to acquire the Adobe Workfront consulting unit from Rego Consulting to strengthen its hybrid cloud and AI strategy. This acquisition marks IBM's 17th overall and 9th in cloud and AI services since April 2020. The Adobe Workfront unit enhances IBM's offerings in work management, aiming to improve client efficiency and digital transformation capabilities. The deal allows IBM to deliver integrated services that connect marketing, sales, and support efforts for enterprise clients, although financial details remain undisclosed.
Kyndryl, formed from IBM's Managed Infrastructure Services business, will hold a virtual Investor Day on October 19, 2021, at 1 p.m. EDT. The event will feature discussions on Kyndryl's core practices, addressable market, financial performance, and strategies for growth, culminating in a Q&A with senior executives including CEO Martin Schroeter, Group President Elly Keinan, and CFO David Wyshner. Interested parties can access the webcast and related materials via Kyndryl's investor relations website. A replay will be available for 90 days post-event.
IBM has partnered with Brmaja Commercial Company to assist Virgin Megastore KSA in migrating its SAP ERP workloads to IBM Cloud. This shift is part of a hybrid cloud strategy aimed at enhancing operational efficiencies amid rising consumer digital engagement expectations post-COVID-19. The move is expected to boost productivity and streamline operations, allowing the retailer to adapt quickly to market demands. Through this collaboration, Virgin Megastore aims to innovate and enhance both customer and employee experiences in a secure environment.
IBM announced a major initiative to provide 30 million people worldwide with skills for future job opportunities by 2030. This plan includes over 170 new partnerships with academic institutions and industry leaders to enhance access to education in technology fields. CEO Arvind Krishna emphasized the importance of democratizing skills to fill the growing global skills gap, which could add US$11.5 trillion to global GDP by 2028. The initiative features diverse programs aimed at underserved communities, including internships, mentorships, and no-cost online courses.
On October 12, 2021, Apptio and IBM announced a collaboration to enhance decision-making for hybrid cloud technology. This partnership aims to boost the adoption of IBM's open hybrid cloud and Red Hat OpenShift. By leveraging data-driven insights from Apptio, clients can better assess migration and application strategies. IBM will provide consulting services to aid clients using Apptio’s products for managing cloud resources. This collaboration emphasizes the need for enterprises to optimize their technology investments in a hybrid environment, catering to both on-premises and cloud needs.
IBM has announced the separation of its managed infrastructure services business, Kyndryl, approved by its board. Shareholders will receive 80.1% of Kyndryl's shares, with a distribution date set for
IBM and Raytheon Technologies have announced a strategic collaboration to develop artificial intelligence, cryptographic, and quantum solutions tailored for the aerospace, defense, and intelligence sectors. This partnership aims to enhance system design, secure communication networks, and improve decision-making processes. The collaboration combines IBM's innovations with Raytheon's aerospace expertise, addressing critical challenges in cybersecurity as quantum technologies evolve. A dedicated team will accelerate the integration of IBM's technologies into active programs and identify long-term solutions.
IBM and Deloitte have launched DAPPER, an AI-enabled managed analytics solution designed to help organizations effectively use data in hybrid cloud environments. This offering arises from their 21-year partnership and combines the Deloitte Analytics Platform with IBM Cloud Pak for Data, aiming to simplify AI adoption. DAPPER includes a cloud-enabled analytics platform, an analytics development factory, and a subscription catalog. By streamlining analytics, DAPPER aims to enhance data trust and reporting across industries, enabling quicker deployment of advanced solutions for complex business challenges.
FAQ
What is the current stock price of International Business Machines Corporation (IBM)?
What is the market cap of International Business Machines Corporation (IBM)?
What is IBM known for?
Where is IBM headquartered?
What are some recent achievements of IBM?
What is the scope of IBM's global operations?
What sustainability goals has IBM set?
How is IBM contributing to semiconductor advancements?
How is IBM expanding its software availability?
What role does AI play in IBM's strategy?
What is IBM's contribution to global financial transactions?
What recent strategic acquisition has IBM announced?
