AI impact on IBM's revenue

American technology company IBM’s revenue increased by 2 percent to $15.8 billion in the second quarter of this year. IBM CEO Arvind Krishna said, “We continue to see clients turn to IBM for our technology and expertise in enterprise artificial intelligence.” According to the UN’s second-quarter balance sheet, the company’s revenue in the second quarter of this year increased by 2 percent compared to the same period last year, reaching $15.8 billion. IBM had revenue of $15.5 billion in the same period last year. The company’s net profit also increased by 16 percent in the second quarter of the year compared to the same period last year, reaching $1.8 billion. IBM’s net profit was calculated as $1.6 billion in the second quarter of last year. The company’s earnings per share, which was $1.72 in the second quarter of last year, increased to $1.96 in the same period this year. IBM’s financial results outpaced market expectations in the period in question. IBM’s Chief Executive Officer (CEO) Arvind Krishna said in a statement that the company had a strong second quarter, exceeding expectations, driven by both revenue and free cash flow growth. “We continue to see clients turn to IBM for our technology and expertise in enterprise AI, and our portfolio in generative AI has grown to over $2 billion since the launch of Watsonx a year ago,” Krishna said.