Forbes July 24, 2024
Much of the strong performance IBM reported for the second quarter of 2024 is directly attributable to its efforts to help enterprises leverage the transformative benefits of artificial intelligence. AI fueled growth across key segments despite broader macroeconomic challenges.
Strong Performance Amidst Economic Headwinds
IBM reported $15.8 billion in revenue for Q2 2024, a 4% year-over-year increase at constant currency. CEO Arvind Krishna told analysts that its AI and hybrid cloud strategy continues to be a significant growth driver for the company, with its many AI initiatives, anchored by watsonx, woven into IBM’s software, infrastructure, and consulting services.
AI-Powered Software Growth
IBM grew its software segment revenue 8% year-over-year, reaching new heights due to the integration of AI capabilities. Key...
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