IBM falls on lukewarm growth for red hat software business

IBM shares have climbed this year on investor enthusiasm for the software business, which is fueled by acquired divisions Red Hat and HashiCorp. Chief Executive Officer Arvind Krishna has pushed the unit to become IBM’s largest business, especially as the consulting business has been buffeted in recent years by customer concerns about the overall economy. In the quarter, total software revenue gained 10% to $7.21 billion, in line with estimates.

Leave a Reply

Your email address will not be published. Required fields are marked *