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IBM's Q3 revenue up 5%, beats estimates on cloud and security services

The company's shares rose nearly 5% to $152.80 in extended trading on Tuesday.


International Business Machines Corp's shift to newer businesses such as cloud and security services helped it beat Wall Street's quarterly revenue estimates, and the company said its latest mainframe is getting "enthusiastic adoption". The company's shares rose nearly 5 per cent to $152.80 in extended trading on Tuesday. Revenue in the company's mainframe business jumped 60 per cent in the third quarter, Chief Financial Officer Martin Schroeter told Reuters, adding that the business benefited from the newly launched Z14. The company began ...

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First Published: Wed, October 18 2017. 10:00 IST