IBM Revenues Grow on Strength of AI and Cloud Businesses
• IBM reported 4% revenue growth in latest quarter, partly driven by demand for AI products and services • Free cash flow expected to improve to $12B this year from $11.2B in 2022 • Generative AI offerings seeing 5x increase in use cases and pilots from Q3 to Q4 • Consulting revenue up 6-8% as hybrid cloud and AI adoption continues • IBM stock hits 10-year high after years of range-bound trading