>>Q1 numbers show that the big b...
IBM has completely changed the past narrative and has posted revenue growth of 8 percent-plus in the first quarter of 2022
Popular tech giant IBM had a lot of lean years when it posted a series of declining revenue for 22 straight quarters (2012-2017). Even after that, the big blue could rarely find meaningful growth. According to recent developments, IBM has completely changed the past narrative and has posted revenue growth of 8 percent-plus in the first quarter of 2022. This growth rate posted by IBM is much stronger than the numbers posted by it in Q4 of 2021.
Recently IBM’s share value rose by 2 percent, and even the premarket numbers were higher than 2 percent. According to a trading post published by tech crunch, the value of the shares increased by seven points. Back in 2018, IBM had bought Red Hat for a whopping $34 billion, and now the company has posted 18 percent revenue for this Q1. When the company was purchased in 2018, the idea was to keep the entity independent and let it continue as it is while taking advantage of the growth. Recent developments show that it was a wise move in the long run as Red Hat is performing strongly. The main motto behind the Red Hat purchase was to allow IBM to act as a consultant instead of trying to directly compete with Google, Microsoft, and Amazon.