• IBM has generated $4.6 billion net cash flow from operating activities
• Growth in the business is driven by client demand for hybrid cloud and AI offerings
• IBM is Global leader in hybrid cloud, AI and consulting space.

IBM has posted strong second Quarter Earning result. On a consolidated basis, IBM has generated $4.6 billion net cash flow from operating activities and $3.3 billion of free cash flow. IBM has returned $1.5 billion to shareholders in dividends in the second quarter and has ended the second quarter with $7.8 billion of cash in hand. Total Debt stood at $50.3 billion, down $1.4 billion since the end of 2021

IBM chairman and chief executive officer Mr Arvind Krishna said that Company has delivered good revenue performance. IBM has achieved balanced growth across geographies. Growth in the business is driven by client demand for hybrid cloud and AI offerings. 

During Second Quarter,  IBM has registered Revenue of $15.5 billion, registering an increase of 9 percent. On a constant currency basis increase is 16 percent. On the business activity/segment basis, revenue from Software is up by 6 percent and up by 12 percent on a constant currency basis. Under Software services, IBM provides Hybrid Platform & Solutions and Processing of Transaction

Company’s Consulting revenue up by 10% and on constant currency basis, revenue is up by 18 %. Consulting services includes Technology Consulting, Business Transformation and Application Operations. Company has also increase registered increase in Infrastructure revenue, which is up by 19 % and up by 25 % at constant currency

Company’s Hybrid cloud revenue has increased by 16% over the last 12 months and stands at $21.7 billion.

Earlier IBM has suspended business operations in Russia due to the war in Ukraine

IBM is Global leader in hybrid cloud, AI and consulting space. Earlier in July IBM received a new 33-month work order contract with the Defense Microelectronics Activity (DMEA) for providing security services to enhance the Department of Defense’s (DoD) microelectronics supply chain, to be used in critical mission platforms.

Supply chain challenges related to secure microelectronics supply are a serious national security concern for United States. IBM Consulting work will help DMEA in increasing domestic capacity of trusted semiconductors supply, which are advance as well secured in nature for usage in key military and national security programs.  IBM Watson which is AI for business is supporting federal government agencies to build and deploy trustworthy AI at scale.

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