Why IBM Stock Jumped Today

·2 min read
Why IBM Stock Jumped Today

Shares of IBM (NYSE: IBM) climbed 5.7% on Tuesday after the technology giant's fourth-quarter report gave investors hope that its growth strategy was taking hold. The gains were driven by an 8.2% increase in IBM's software revenue, to $7.3 billion, and a 13.1% jump in its consulting revenue, to $4.7 billion. The company's hybrid cloud operations, which help businesses integrate their private computing resources with public cloud services, enjoyed particularly strong growth.

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