Layoffs, more acquisitions on the horizon, bets on artificial intelligence and pushback on new-business slowdown statements from Microsoft and F5 were among the highlights of IBM’s latest quarterly earnings call.
On Thursday, the Armonk, N.Y.-based tech giant reported earnings for the fourth quarter of its fiscal year, which ended Dec. 31.
“Over the last several quarters, it has become clear that technology is playing a significant role in boosting productivity in the face of inflation, demographic shifts, supply chain challenges and sustainability requirements,” IBM CEO Arvind Krishna said on the call.
[RELATED: IBM CEO Arvind Krishna: AI, Hybrid Cloud ‘Work Together To Drive Business Outcomes’]
“We entered 2022 a more focused company and took steps to reinforce our position. We strengthened our consulting expertise and expanded strategic partnerships. To bolster our software portfolio, we invested in hybrid cloud and AI capabilities. We also delivered significant innovations in infrastructure with our z16 and Power platforms. All of this was brought to market with a more tactical and experiential sales approach.”
IBM’s stock traded at $134.15 a share Thursday afternoon, down about 3 percent from market close Wednesday.
Here’s what you need to know.
LEARN MORE: Cloud Infrastructure | AI | Cloud Platforms | Cloud Security | Cloud Software | Cybersecurity
Wade Tyler Millward is an associate editor covering cloud computing and the channel partner programs of Microsoft, IBM, Red Hat, Oracle, Salesforce, Citrix and other cloud vendors. He can be reached at [email protected].
RELATED CONTENT
Salesforce Board Of Directors: Who’s In, Who’s Out, Who Stays After Elliott StakeCloud Provider Spend On IT Capex Climbs As Telecom Falls10 Hot Cloud Computing Startup Companies To Watch In 2023Microsoft Q2 Earnings: 5 Things To KnowIBM CEO Arvind Krishna: AI, Hybrid Cloud ‘Work Together To Drive Business Outcomes’ TO TOPADVERTISEMENT