After-hours stock price rose more than 8%! IBM's Q4 revenue and EPS exceeded expectations, and the 2024 performance outlook is optimistic.
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IBM announced its fourth-quarter performance for 2023, with revenue of $17.4 billion, a YoY growth of 4.1%, surpassing market expectations. Earnings per share were $3.87, also exceeding market expectations. The consulting business revenue grew by 6%, while the software business revenue was slightly lower than expected. IBM is optimistic about its revenue and cash flow for 2024, expecting free cash flow to reach approximately $12 billion and revenue to grow at a "mid-single-digit" rate. In addition, IBM plans to lay off employees and stated that customer demand for artificial intelligence is accelerating.
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