IBM tops Q4 forecasts powered by software growth; cuts 1.5% workforce

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Go back to IBM tops Q4 forecasts powered by software growth; cuts 1.5% workforce

IBM (IBM) earnings provoke's mixed reaction from Wall Street analysts

January 26, 2023 9:45 AM EST

Wall Street analysts provided a mixed reaction to IBM's (NYSE: IBM) latest earnings release, which saw it beat analyst consensus expectations, with profit coming in at $3.60 per share on revenue of $16.7 billion.

Stifel analyst David Grossman cut his price target on IBM to $150 from $158 following the release, stating that the company's stable revenue trend was overshadowed by its... More