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IBM's Q3 revenue rises 5% to $17.1 billion, beating expectations
SiliconANGLE reports IBM's regular-session stock gains were wiped out in late trading after its earnings release.
TLDR
IBM reported third-quarter revenue of $17.1 billion, up 5% year over year and above analysts' $16.82 billion estimate, SiliconANGLE reports. Software revenue rose 8% to $7.8 billion, but adjusted gross margin missed expectations. More than two-thirds of the mainframe deals delayed during Q2 closed in Q3, while IBM kept its full-year revenue growth forecast at 4%–5%.
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