IBM reported its performance for the second quarter of 2024 with a total revenue of $15,770 million, an increase of 2% compared to the same quarter in the previous year. The company also achieved a net profit of $1,834 million.
Arvind Krishna, CEO of IBM, stated that in the past quarter, the company has shown strength in both revenue growth and free cash flow. The business related to Generative AI has seen a significant growth to $2 billion since the launch of watsonx last year.
Revenue breakdown by business groups are as follows:
– Software group: Revenue increased by 7% to $6,739 million
– Consulting group: Revenue decreased by 1% to $5,179 million
– Infrastructure group: Revenue increased by 1% to $3,645 million
Source: IBM
TLDR: IBM reported a 2% increase in total revenue in Q2 2024, reaching $15,770 million, with a net profit of $1,834 million. CEO Arvind Krishna highlighted the growth in revenue and free cash flow, particularly in the Generative AI business segment.
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