IBM posts biggest annual sales increase in more than a decade, announces layoffs

International Business Machines Corp. increased revenue more than 6% in 2022, the biggest sales increase for Big Blue in more than a decade, but its stock fell in extended trading Wednesday.

Chief Executive Arvind Krishna said on IBM’s

earnings call that the company saw “revenue growth across segments and geographies,” and attributed that to the strength of the company’s hybrid cloud and artificial-intelligence strategy.

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