Cloud Stocks: Big Blue Climbs to 10-Year High on AI Potential
IBM (NYSE: IBM) recently announced strong results for its fourth-quarter that sent the stock climbing 7% in the after-hours trading session. IBM's Financials Revenues for the quarter grew 4% to $17.4 billion, surpassing Street's estimates of $17.3 billion. Adjusted earnings of $3.87 per share were significantly ahead of the analyst estimates of $3.79. By segment, revenues from Software that includes Hybrid Platform & Solutions and Transaction Processing grew 3% to $7.5 billion, falling short of the market's forecast of $7.67 billion. Revenue from Consulting including Busin...