IBM says Q2 growth led by software and consulting

“Organizations are using our hybrid cloud and AI technology, and our consulting capabilities, to transform their operations,” said Arvind Krishna, IBM chairman and CEO. “We continue to respond to the needs of our clients who seek trusted, enterprise AI solutions, and we are particularly excited about the response to the recently launched watsonx AI platform. Finally, we remain confident in our revenue and free cash flow growth expectations for the full year.” “In the quarter, revenue performance was led by our growth vectors of software and consulting, and we continued to expand our gross profit margin, driven by our improving portfolio mix and productivity initiatives,” said James Kavanaugh, IBM senior vice president and CFO. “This year we have leveraged our strong cash position to invest for growth, announcing seven acquisitions to bolster our hybrid cloud and AI strategy, while continuing to return value to shareholders through dividends.”