IBM’s fourth-quarter revenue hits $16.7 billion

Pinwan News, January 26, IBM recently released its financial report for the fourth quarter of 2022. IBM posted an adjusted profit of $3.60 a share on revenue of $16.7 billion for the quarter.

In terms of business division, IBM’s software business revenue reached US$7.3 billion, a year-on-year increase of 2.8%. Consulting revenue was $4.8 billion, up 0.5% year-over-year. Revenue from financing business amounted to US$200 million, a decrease of 0.4% year-over-year.

IBM also recently announced that it will lay off 3,900 employees, accounting for about 1.5% of the total workforce.