By Mucahithan Avcioglu
ISTANBUL (AA) - US technology giant IBM's revenue rose around 1% year-on-year in the first quarter of 2025 to $14.54 billion, according to financial results released Wednesday by the company.
IBM reported revenue of $14.46 billion in the first quarter of 2024.
However, the company's net income fell by 33% to $1.06 billion compared to $1.61 billion in the same period.
Its earnings per share in the first quarter were recorded at $1.12 compared with $1.72 in the same period last year.
“We exceeded expectations for revenue, profitability and free cash flow in the quarter, led by strength across our Software portfolio," said Arvind Krishna, IBM's CEO.
"There continues to be strong demand for generative AI and our book of business stands at more than $6 billion inception-to-date, up more than $1 billion in the quarter.
"We remain bullish on the long-term growth opportunities for technology and the global economy. While the macroeconomic environment is fluid, based on what we know today, we are maintaining our full-year expectations for revenue growth and free cash flow," he added.