AWS is negotiating a potential $475 million AI cloud deal with IBM.IBM already uses AWS services for AI, including training models on EC2 servers with Nvidia chips.Amazon said its AI business is growing at "triple digit percentages" annually. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you'r ...

Business leaders see the benefits of investing in IT for sustainability, with 88% planning to increase investments in IT for sustainability over the next 12 months90% of executives surveyed believe AI will positively influence sustainability goals — yet more than half of organizations aren't leveraging AI for sustainabilitySignificant perception gap between top execs and their staff on sustainability expectationsARMONK, N.Y., Nov. 12, 2024 /PRNewswire/ -- IBM (NYSE: IBM) today released its first-ever State ...

Effective Data Management Strategy and Aggressive Investment Approach Found as Biggest DifferentiatorsNEW YORK, Nov. 8, 2024 /PRNewswire/ -- IBM (NYSE: IBM) released a new report called AI in Action that highlights artificial intelligence strategies of businesses considered "AI Leaders." The report is based on a survey, conducted on behalf of IBM by Harris Poll, of 2,000 companies across the U.S., U.K., India, Japan and Germany.According to the findings, of the 2,000 businesses surveyed, 15% reported being ...

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.Benzinga readers can review the latest analyst takes on their favorite stocks by visiting Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy.Below are the ratings of the most accurate analysts for three high-yield ...

ARMONK, N.Y., Nov. 7, 2024 /PRNewswire/ -- IBM (NYSE:IBM) today announced it has entered into a multi-year agreement with Ferrari S.p.A. to become the official Fan Engagement and Data Analytics Partner of Scuderia Ferrari HP, the most renowned Formula 1 team, starting in 2025.The partnership brings together two iconic and enduring brands, both driven by a passion for innovation and a commitment to progress. IBM and Scuderia Ferrari HP will conceive, develop, and deliver world-class digital experiences to br ...

SAN FRANCISCO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Fresche Solutions, a global leader in IBM i modernization and transformation, acquires Redbourn Business Systems, a UK-based provider of specialized IBM i Synon/CA 2E development and consulting services. This strategic move reinforces Fresche’s commitment to customers, partners, and organizations invested in IBM mid-range solutions and expands its footprint to further support clients in the UK and Europe who require specialized Synon/CA 2E expertise. This ac ...

International Business Machines Corporation (IBM) recently announced that its Apptio portfolio of enterprise agile planning (EAP), IT financial management and cloud FinOps solutions will be available on Microsoft Azure – the cloud computing platform of Microsoft Corporation (MSFT) . Also, IBM expanded the global availability of its software portfolio to 14 additional countries on the Azure Marketplace to better serve customers on their digital transformation journeys.IBM’s EAP software eases the operation s ...

Brian Gilmartin, is a portfolio manager at Trinity Asset Management, a firm he founded in May, 1995, catering to individual investors and institutions that werent getting the attention and service deserved, from larger firms. Brian started in the business as a fixed-income / credit analyst, with a Chicago broker-dealer, and then worked at Stein Roe & Farnham in Chicago, from 1992 - 1995, before striking out on his own and managing equity and balanced accounts for clients. Brian has a BSBA (Finance) from Xav ...

Financial Performance - In Q3 2024, the company reported revenue of $15.0 billion, a 1.5% increase year-over-year, and a net loss from continuing operations of $0.3 billion, impacted by a one-time pension settlement charge of $2.7 billion[223]. - Operating (non-GAAP) earnings for Q3 2024 were $2.2 billion, with diluted earnings per share of $2.30, reflecting a 6.1% increase compared to the previous year[220]. - The gross profit margin improved to 56.3%, up 1.9 percentage points year-over-year, driven by revenue growth and ongoing productivity actions[227]. - Total revenue for the first nine months of 2024 was $45.2 billion, reflecting a year-over-year growth of 1.6 percent[235]. - Total revenue for Q3 2024 was $14,968 million, reflecting a 1.5% increase from $14,752 million in Q3 2023[255]. - Net income from continuing operations was $3.1 billion for the first nine months of 2024, a decrease of 27.0 percent compared to $4.2 billion in the prior-year period[235]. - Diluted earnings per share from continuing operations was $3.30 for the nine months ended September 30, 2024, down 28.1 percent from the prior-year period[242]. Revenue Breakdown - Software revenue grew by 9.7% as reported and 9.6% adjusted for currency, significantly contributing to overall revenue growth[224]. - Consulting revenue decreased by 0.5% as reported but remained flat when adjusted for currency, reflecting a dynamic market environment[225]. - Hybrid Platform & Solutions revenue reached $4,600 million in Q3 2024, a 9.8% increase year-over-year (9.7% adjusted for currency)[256]. - Red Hat revenue grew by 13.7% in Q3 2024, contributing approximately 3.5 points to total Software revenue growth[256]. - For the first nine months of 2024, Software revenue totaled $19,162 million, a 7.5% increase compared to the same period in 2023[259]. - Consulting revenue for the third quarter of 2024 was $5,152 million, a decrease of 0.5 percent year-over-year, reflecting a challenging macroeconomic environment[266]. Expenses and Costs - Total expenses increased by 50.0% year-over-year, primarily due to the pension settlement charge and higher workforce rebalancing costs[228]. - Total expense for the three months ended September 30, 2024, was $9,222 million, an increase of 50.0% from $6,150 million in 2023[296]. - Total selling, general and administrative (SG&A) expense for the three months ended September 30, 2024, was $4,911 million, an increase of 10.2% from $4,458 million in 2023[299]. - Research, development, and engineering (RD&E) expense rose by 11.3% in Q3 2024 and 9.7% for the first nine months compared to the prior year, driven by investments in AI, hybrid cloud, and quantum technologies[304]. - Other (income) and expense showed a total expense of $2,244 million in Q3 2024, compared to income of $215 million in the prior year, largely due to a non-operating retirement-related cost of $2,797 million[310]. Cash Flow and Liquidity - The company generated $2.9 billion in cash from operations and $2.1 billion in free cash flow during the quarter[223]. - Cash provided by operating activities was $9.1 billion in the first nine months of 2024, a decrease of $0.4 billion compared to the same period in 2023[245]. - Free cash flow for the first nine months of 2024 was $6.6 billion, an increase of $1.5 billion year-over-year[245]. - Net cash provided by operating activities decreased by $353 million to $9,115 million compared to the first nine months of 2023[341]. Assets and Equity - Total assets decreased by $0.9 billion from December 31, 2023, primarily due to a decrease in receivables[244]. - Total equity increased to $24.5 billion as of September 30, 2024, up $1.9 billion from December 31, 2023, driven by year-to-date net income[244]. - Noncurrent assets increased by $1,463 million primarily due to an increase in goodwill and intangible assets from acquisitions[330]. Debt and Financing - Total debt as of September 30, 2024, was $56,579 million, flat compared to December 31, 2023[324]. - Long-term debt increased by $2,859 million primarily driven by first-quarter 2023 debt issuances[331]. - The Financing debt-to-equity ratio remained at 9.0 to 1 as of September 30, 2024[336]. Risks and Challenges - The company acknowledges potential risks including economic downturns and client spending budgets that could impact future performance[393]. - Risks related to cybersecurity and data privacy are emphasized as critical factors for the company's operations[393]. - The potential failure of the separation of Kyndryl Holdings, Inc. to qualify for tax-free treatment is noted as a significant risk[393]. - The impact of climate change and environmental matters is recognized as a concern for the company's future strategies[393]. - The company must navigate currency fluctuations and customer financing risks that could affect its financial stability[393].

IBM Software Portfolio on the Azure Marketplace Expands GloballyARMONK, N.Y., Oct. 29, 2024 /PRNewswire/ -- IBM (NYSE: IBM) announced today that it is bringing the Apptio portfolio of enterprise agile planning (EAP), IT financial management, and cloud FinOps solutions to Microsoft Azure. In addition, IBM announced their global expansion of IBM Software availability on the Azure Marketplace making it easier for customers to buy software directly on the marketplace while using their Microsoft Azure Consumptio ...