IBM Q2 earnings report 2024 [Video]

IBM shares rose 5% in extended trading on Wednesday, after the company reported second-quarter results that surpassed analysts’ predictions.

Here are the key numbers.

• Earnings per share: $2.43 adjusted vs. $2.20 expected, according to LSEG
• Revenue: $15.77 billion vs. $15.62 billion expected, according to LSEG.

Revenue increased 1.9% from $15.48 billion a year ago, IBM said in a statement. Net income of $1.83 billion, or $1.96 per share, was up from $1.58 billion, or $1.72 per share, a year earlier.

The company, which provides hardware, software and consulting services, now expects 2024 free cash flow to come in above $12 billion. In April, executives were calling for about $12 billion.

The company’s book of business for generative artificial intelligence now stands above $2 billion, CEO Arvind Krishna was quoted as saying in the statement. The number was over $1 billion in April.

“We remain confident in the positive macro outlook for technology spending,” Krishna said on a conference …