IBM's Strategy Seems To Pay Off, Latest Results Show

Tuesday, July 19, 2016

IBM's Strategy Seems To Pay Off, Latest Results Show

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IBM reported financial results for the quarter, which has given its investors a sign that the company is turning things around.

Revenue increased for the first time in a key unit -- cognitive solutions, including its Watson artificial intelligence platform -- that the company has been touting as crucial to future growth. Overall, sales have declined for 17 quarters in a row, while margins have also narrowed.

Second-quarter sales gained 3.5 percent to $4.7 billion in the cognitive solutions group, including analytics and security software products. Chief Financial Officer Martin Schroeter highlighted Cognos and Watson products in the analytics portfolio as the major reasons for the increase.