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
IBM,
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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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