IBM (NYSE: IBM) has reported fourth quarter 2022 financial results. “Our solid fourth-quarter performance capped a year in which we grew revenue above our mid-single digit model. Clients in all geographies increasingly embraced our hybrid cloud and AI solutions as technology remains a differentiating force in today’s business environment,” said Arvind Krishna, IBM chairman and chief executive officer. “Looking ahead to 2023, we expect full-year revenue growth consistent with our mid-single digit model.”
For the fourth quarter the company has reported USD 16.7 Billion. Software revenue increased 3% as consulting revenue raised by 0.5%. Infrastructure revenue increased by 2%.
For the full year revenue amounted to USD 60.5 Billion or up 6% as hybrid cloud revenue summed up to USD 22.4 Billion an 11% increase.
For 2023 the company expects revenue growth consistent with its mid-single digit model and USD 10.5 Billion in consolidated free cash flow, up over USD 1 Billion year to year.
“IBM’s revenue growth and operating profit in 2022 demonstrate the strength and multiplier effect of our platform-centric approach to hybrid cloud and AI,” said James Kavanaugh, IBM senior vice president and chief financial officer. “Our client-focused portfolio and strong recurring revenue stream position IBM well for continued growth, solid cash generation and returning value to shareholders through dividends.”