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IBM shows good sales growth for the quarter

IBM shows good sales growth for the quarter

IBM has reported solid sales growth for the second quarter ended 30 June, 2022.

Revenue was $15.5 billion, up 16% (constant currency) on the same quarter last year.

“In the quarter we delivered good revenue performance with balanced growth across our geographies, driven by client demand for our hybrid cloud and AI offerings,” said Arvind Krishna, IBM chief executive officer.

Software revenue was up 12% and consulting turnover was up 18%. Meanwhile, infrastructure sales jumped by a quarter (25%).

The pre-tax profit from the quarter almost doubled from $912m last year to $1.72 billion this time.