IBM lost 3,260 million in the third quarter after agreement on pensions

MADRID, 20 Oct.

IBM lost 3,260 million in the third quarter after agreement on pensions

MADRID, 20 Oct. (EUROPA PRESS) -

International Business Machines (IBM) recorded losses of 3,196 million dollars (3,260 million euros) in the third quarter of 2022, compared to profits of 1,130 million dollars (1,152 million euros) recorded in the same period of the previous year, after assuming an adverse impact of 5,900 million dollars (6,018 million euros) for a pension agreement, the US company reported in a statement.

In this sense, the multinational specified that its accounts include an exceptional impact before taxes of 5,900 million dollars due to the settlement of pensions, announced on September 13.

The turnover of 'Big Blue' between July and September reached 14,107 million dollars (14,389 million euros), 6.4% above the revenue recorded in the same period of 2021.

IBM's turnover grew by 7.5% in the software business, up to 5,811 million dollars (5,927 million euros) and 5.4% in the consulting area, up to 4,700 million dollars (4,794 million euros) , while revenues from the infrastructure business increased by 14.7%, to 3,352 million dollars (3,419 million euros).

Thus, in the first nine months of the year, IBM recorded net losses of 1,071 million dollars (1,092 million euros), in contrast to the net profit of 3,410 million dollars (3,478 million euros) a year earlier, while its turnover grew by 7.8%, to 43,840 million dollars (44,717 million euros).

"IBM delivered strong revenue growth in the quarter, reflecting our continued focus on executing our strategy," said Arvind Krishna, president and CEO of IBM.

"With our year-to-date performance, we now expect full-year revenue growth above our mid-single-digit model," he added.

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