IBM earnings top estimates as margins expand

▤ Summary

IBM Chairman and CEO Arvind Krishna appears on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. IBM issued stronger-than-expected first-quarter earnings on Wednesday even as the technology and consulting company reported disappointing revenue. Finance chief Jim Kavanaugh said three months ago that, "as we enter this year, I think its prudent to expect the low end of the mid-single-digit model." During the quarter, IBM said its technology was powering artificial intelligence-powered commentary on videos in the Masters Tournament golf app. In recent months, following the launch of startup OpenAIs ChatGPT chatbot, several technology companies have sought to showcase their generative AI capabilities for creating images, text and videos.

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IBM

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