IBM's third-quarter revenue rises about 5% to $17.1 billion, beating estimates

IBM reported $17.1 billion in revenue for the quarter ended Sept. 30, about 5% more than a year earlier, Bloomberg reports. CNBC puts the revenue estimate at $16.82 billion and says adjusted earnings also topped LSEG expectations. Bloomberg attributes the recovery of most previously delayed infrastructure deals to IBM; CNBC says the company now expects full-year free cash flow to rise by more than $1 billion year over year.