Shulou(Shulou.com)11/24 Report--

On January 30, IBM released its fourth quarter 2022 results report, with revenue of $16.7 billion in the fourth quarter, flat year-on-year and up 6% at constant exchange rates. For the full year of 2022, IBM's revenue totaled $60.5 billion, up 6%, or 12% at constant exchange rates (including sales growth to Kyndryl, about 4 percentage points).

IBM's software business (including hybrid cloud platforms and solutions, transaction processing platforms) revenue was $7.3 billion, up 2.8%, up 8% at constant exchange rates

Hybrid cloud platforms and solutions revenue up 5% and 10% at constant currency

Red Hat revenue up 10%, up 15% at constant currency

Automation revenue up 4% and 9% at constant exchange rates

Data and AI revenue grew 4% and 8% at constant exchange rates

Security revenue up 4% and up 10% at constant exchange rates

Transaction processing revenue fell 3%, up 3% at constant exchange rates

Consulting business (including business transformation, technology consulting and application management) revenue was $4.8 billion, up 0.5%, or 9.3% at constant exchange rates

Business Transformation Revenue down 1% and up 7% at constant exchange rates

Technical consulting revenue up 1% and up 10% at constant exchange rates

App management revenue up 2% and up 12% at constant exchange rates

Infrastructure business (including hybrid cloud infrastructure and infrastructure support) revenue was $4.5 billion, up 1.6%, or 7.4% at constant exchange rates

Hybrid cloud infrastructure revenue up 6% and 11% at constant exchange rates

IBM Z revenue up 16%, 21% at constant exchange rates

Distributed infrastructure revenue was flat year-over-year, up 5% at constant exchange rates

Infrastructure support revenue fell 8% year-on-year at constant exchange rates

Revenue from Global Finance (including client and commercial finance) was $200 million, down 0.4% and up 3.9% at constant exchange rates.

At the end of the fourth quarter, IBM held $8.8 billion in cash (including convertible bonds), up $1.3 billion from the end of 2021.

IBM expects revenue growth to remain in the mid-single digits in 2023. At current exchange rates, revenue growth is expected to increase by 0 to 1 percentage point over constant exchange rates.

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