IBM (NYSE: IBM) today announced fourth-quarter 2022 earnings results that saw revenue increase more than 6% year over year, the biggest sales increase for Big Blue in more than a decade. Shares of International Business Machines Corp. inched 0.68% higher to $135.30 Monday, on what proved to be an all-around grim trading day. The tech giant's revenue stayed flat year over year, but investors were buoyed by the company's software and infrastructure businesses.
IBM’s stock slumped 4% on Jan. 26 in response to its fourth-quarter report. But the strong 2022 financial results appear to have eased investors’ concerns. Healthy demand for hybrid cloud and AI solutions with a client-focused portfolio and broad-based growth helped IBM to record strong revenues.
investors looking for stock in the Computer - Integrated Systems sector might want to consider either Hewlett Packard Enterprise (NYSE:HPE) or International Business Machines (NYSE:IBM). Both companies have reported positive earnings surprises in recent quarters. IBM’s stock has performed well in the past year, with shares rising more than 40%.