IBM Grows Free Cash Flow but Will Likely Miss 2024 Goal

Timothy Green, The Motley Fool
·3 min read
IBM Grows Free Cash Flow but Will Likely Miss 2024 Goal

Following the spinoff of its managed infrastructure services business, which removed around $19 billion of less-than-desirable revenue from the income statement, International Business Machines (NYSE: IBM) is a leaner and more focused company. Hybrid cloud, artificial intelligence, high-margin software, and consulting are the businesses that will drive revenue and profit growth in the coming years. Total revenue was up 6% adjusted for currency, with over 70% of that revenue coming from software and consulting.

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