IBM's slower revenue growth fans AI worries, shares fall - Reuters
IBM's slower revenue growth fans AI worries, shares fall Reuters
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Notable Quotes
"Gen AI in modernization of mainframe is actually an accelerator and accretive to the mainframe portfolio overall."
— James Kavanaugh , Executive
"IBM had its strongest growth in the region in decades and could absorb disruption from the closure of the Strait of Hormuz for another few weeks."
— Arvind Krishna , Executive
""Gen AI in modernization of mainframe is actually an accelerator and accretive to the mainframe portfolio overall.""
— James Kavanaugh , Executive
""IBM had its strongest growth in the region in decades and could absorb disruption from the closure of the Strait of Hormuz for another few weeks.""
— Arvind Krishna , Executive
""The stakes around these results were higher than normal given the software/services selling pressure the market has seen this year amid AI competition fears, and we do not think Q1’s results validated those fears.""
— Brooks Idlet , Other
"AI continues to be a tailwind for our business."
— Jim Kavanaugh , Executive
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<a href="https://news.google.com/rss/articles/CBMimAFBVV95cUxPcjh3OWRzUk80SEJlZjgxdnNtRlVwa3Q2MTFXeG1DenIyeGt4anVFc0cwa2dKdlFDRkZsalFPZV80N1lwZU4yVWJHeERSSko4dzJISDRiVmdMek01eUoxWVlVWkRMUnMtT3p2cEJDVnRnTl9PS0xvX0xFN25xZkF0MDdhbFlmVkJNQUNxRm1hbTBMSTB3UjJkRQ?oc=5" target="_blank">IBM's slower revenue growth fans AI worries, shares fall</a> <font color="#6f6f6f">Reuters</font>
IBM's first-quarter revenue growth slowed to 9%, raising concerns about AI's impact on its software business, particularly after a rival tool showed promise in modernizing COBOL. Despite this, infrastructure segment growth remained robust.
IBM's first-quarter revenue growth slowed to 9%, raising concerns about AI's impact on its software business, particularly after a rival tool showed promise in modernizing COBOL. Despite this, infrastructure segment growth remained robust.
IBM reported a 9% increase in first-quarter revenue, surpassing estimates, driven by higher adoption of AI and hybrid cloud services. However, shares declined by about 6% in extended trading.
IBM reported rising revenue and higher profit in the first quarter, buoyed by the growing adoption of artificial-intelligence tools by businesses. However, shares declined by about 6% in extended trading.
IBM's revenue growth slowed in the first quarter due to sluggishness in its software business, raising concerns about the impact of artificial intelligence tools and causing shares to drop by 6.5% after hours.
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