IBM Corp reported a solid close to 2023, with growth across its businesses and strong cash generation, as detailed in a Form 8-K filed with the SEC. The company's fourth-quarter and full-year results were presented by Chairman and CEO Arvind Krishna and CFO Jim Kavanaugh on January 24, 2024. IBM's revenue growth of 3% and over $11 billion in free cash flow were highlighted as indicators of the company's portfolio strength and revenue growth sustainability. The company's mid-term model progress was emphasized, with average revenue growth for IBM and each segment meeting or exceeding targets since 2021. The report also outlined IBM's confidence in achieving its mid-term revenue model and the strength of its diversified business model...Show More

IBM Corp reported a solid close to 2023, with growth across its businesses and strong cash generation, as detailed in a Form 8-K filed with the SEC. The company's fourth-quarter and full-year results were presented by Chairman and CEO Arvind Krishna and CFO Jim Kavanaugh on January 24, 2024. IBM's revenue growth of 3% and over $11 billion in free cash flow were highlighted as indicators of the company's portfolio strength and revenue growth sustainability. The company's mid-term model progress was emphasized, with average revenue growth for IBM and each segment meeting or exceeding targets since 2021. The report also outlined IBM's confidence in achieving its mid-term revenue model and the strength of its diversified business model. IBM's focus on enhancing its Software portfolio and strengthening its Consulting position was noted, including the launch of watsonx, its flagship AI and data platform. The company's Consulting business was reported to have delivered durable revenue growth throughout the year, despite a challenging macro environment. IBM's zSystems platform was also mentioned for its enduring nature and relevance. Looking ahead, IBM expects technology demand to remain strong in 2024, driving global economic growth and fueling demand for hybrid cloud and Artificial Intelligence. The company anticipates mid-single digit revenue growth and about $12 billion of free cash flow for 2024, in line with its mid-term model. The report included detailed financial highlights, segment performance, and guidance for the upcoming year.