The Rising Influence of Rising Affluence

[DewDiligence]

IBM beats_1Q22_consensus—guides_to_high_end_of_2022_revenue_range—expects minuscule hit from Russia:

https://finance.yahoo.com/news/ibm-forecasts-upbeat-2022-revenue-201257636.html

IBM expects the impact from Russia to be less than "half a percent" of total revenue last year, or a little over $200 million, Chief Financial Officer James Kavanaugh told Reuters.

…The century-old company said it expects to hit the higher end of its mid-single-digit revenue growth forecast for this year, after it trounced first-quarter estimates for revenue, energized by its focus on cloud services amid higher global spending on technology.

…IBM's cloud revenue grew 14% to $5 billion during the quarter ended March 31. Revenue from software and consulting segments, which make up over 70% of IBM's business, rose 12% and 13%, respectively. Total revenue rose 8% to $14.20 billion during the quarter, beating estimates of $13.85 billion.

IBM’s own PR:
https://finance.yahoo.com/news/ibm-releases-first-quarter-results-200800901.html

p.s. IBM's growth rate has been enhanced by the spinoff of KD in Nov 2021.