IBM stock rallies as earnings, sales surge amid Kyndryl spinoff

International Business Machines Corp. shares rallied in the extended session Monday after Big Blue topped Wall Street expectations following the spinoff of its managed infrastructure-service business, Kyndryl Holdings Inc.

IBM
IBM,
-0.41%

reported fourth-quarter net income of $2.33 billion, or $2.60 a share, compared with $1.36 billion, or $1.52 a share, in the year-ago period. Adjusted earnings, which excludes stock-based compensation expenses…

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