IBM Stock Surges on AI-Driven Q4 Results
Key Points:
* IBM shares jump 8% premarket following strong Q4 earnings report.
* Adjusted EPS of $3.92 exceeds analyst estimates of $3.79.
* Revenue of $17.55 billion slightly exceeds expectations.
* Generative AI business booms, with revenue increasing nearly $2 billion quarter-over-quarter.
IBM's fourth-quarter results highlight the strength of its artificial intelligence (AI) business. CEO Arvind Krishna highlighted that the company's "generative AI book of business now stands at more than $5 billion inception-to-date." Krishna emphasized that IBM's AI products provide clients with a scalable foundation built on open source technology.
IBM's Q4 performance comes amidst growing excitement surrounding AI, particularly with advancements in generative models. The company's strong position in the AI market positions it well for continued growth in the coming quarters.