Dow Jones futures were lower late Monday. The stock market recovered from heavy losses Monday ahead of the Fed's two-day policy meeting. Read More...
Reuters
IBM marks strong start to new chapter as cloud revenue booms
(Reuters) -IBM on Monday beat Wall Street estimates for revenue in the fourth quarter, as its focus on the cloud paid off in Big Blue’s first earnings after exiting the slow-growing managed infrastructure business. Shares of the IT giant jumped as much as 7% aftermarket before easing to trade flat, with the company reiterating its forecast for mid-single-digit revenue growth in 2022, compared with 3.9% last year. “This will be the first quarter where you’ll see what today’s IBM looks like, and that is a higher revenue growth company,” Chief Financial Officer James Kavanaugh told Reuters in an interview.
