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IBM raises annual software revenue outlook as deal delays ease

On Wednesday, IBM reported third-quarter revenue of $17.10 billion, rising 4.7 per cent and beating analyst estimates as shares climbed about 4 per cent in extended trading.
IBM finance chief James Kavanaugh said delayed software deals from the previous quarter are beginning to close, lifting software revenue to $7.80 billion and topping the $7.62 billion consensus.
Infrastructure revenue rose 4.2 per cent to $3.71 billion, while Consulting revenue remained flat at $5.34 billion, falling short of the $5.37 billion consensus.
The company agreed to acquire Boeing and General Motors' HRL Laboratories, formerly known as Hughes Aircraft, for an undisclosed sum during the quarter.
IBM CEO Arvind Krishna stated clients are deploying 'Super Intelligence' to transform operating models, as the company maintains its 2026 revenue growth forecast of 4 per cent to 5 per cent.

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