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IBM 4Q 2023 Earnings Recap

Revenue growth in all segments; Strong margin expansion and cash generation

"In the fourth quarter, we grew revenue in all of our segments, driven by continued adoption of our hybrid cloud and AI offerings. Client demand for AI is accelerating and our book of business for watsonx and generative AI roughly doubled from the third to the fourth quarter.

For the year, revenue growth was in line with our expectations, and we exceeded our free cash flow objective. Based on the strength of our portfolio and demonstrated track record of innovation, for 2024 we expect revenue performance in line with our mid-single digit model and about $12 billion in free cash flow."
 
 
 
 

Arvind Krishna
Chairman and Chief Executive Officer
IBM
 
Arvind Krishna
 
 
 
Full Year 2023 Results
 
 
 
 
 
 
 
 
 
Featured Stories
 
 

AI for Business

IBM recently unveiled watsonx.governance, a one-stop-shop to manage and mitigate AI risk, build trust in client data and prepare to meet existing and emerging regulatory requirements.

IBM and Meta launched the AI Alliance, to help developers and researchers use open technologies and build a strong, vibrant AI community while advancing open, safe and responsible AI.
 
 
 
AI Alliance
 

Quantum Momentum

At the IBM Quantum Summit, IBM announced new milestones underpinning the company’s mission to bring useful quantum computing to the world. New innovations include the IBM Quantum System Two, the company's first modular quantum computer and IBM Quantum Heron, the first in a new series of utility-scale quantum processors.
 
 
 
IBM Quantum Heron
 

Client Momentum

IBM clients like NatWest and NATO are partnering with IBM to use collective expertise to tackle challenges – such as improving customer experience with AI and strengthening cybersecurity posture with threat management capabilities.
 
 
 
NatWest