IBM (IBM) released mixed third quarter results after Wednesday's closing bell, reporting $14.97 billion in revenue ($15.05 billion was expected) and adjusted earnings of $2.30 per share ($2.22 was expected). IBM shares have slipped by over 4% in extended-hours trading.

Market Domination Overtime Julie Hyman and Josh Lipton run through the multinational technology company's revenues across its various segments, including software and generative AI.

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Third quarter earnings just crossed in the wire moments ago and shares are falling.

That is expectations of 222 revenue though 14.97 street one to see something close to 1505.

So that is a miss on the top line relative to consensus software revenue.

Julie looks like it beat.

Um Consulting looks like it might have come in a bit light in IBM generative A I book there stands at more than 3 billion right now, but at least initially shares falling.

Yes.

And if you look at those individual business lines, software revenue rose by 9.7%.

Consulting revenue down a half of 1% and infrastructure revenue fell by 7%.

So interesting to see those different lines of business and how they were doing.

Arvind Krishna, the CEO in the statement, talking about strength in software, including what he highlighted as a re acceleration in red hat.

And of course he's, you know, trumpeting the company's A I business as well as saying, the generative A I Book of Business is at $3 billion which is a $1 billion quarter to quarter increase there.

However, he also says that fourth quarter, constant currency revenue will be consistent with the third quarter with strength in software.

So not a real, you know, the the growth rate will be the same, not an acceleration from these levels.

Expectations were hot running out of the, the the stock was up about 40% this year.

Heading, heading into the print software narrative is gonna be really interesting to listen to.

Um because software does represent about 40% of total revenue mix, but it, it, it's actually more in pre tax income.

So that, that'll be really interesting to see how they see that business.