IBM Sees FY Revenue Growth Consistent With Mid-single Digit Model; Reportedly Plans Job Cuts

(RTTNews) - While announcing its fourth quarter results, International Business Machines Corp. (IBM) said it expects constant currency revenue growth for fiscal year 2024 consistent with its mid-single digit model. At current foreign exchange rates, currency is expected to be about a one-point headwind to revenue growth.

The company expects about $12 billion in free cash flow for fiscal year 2024.

The Armonk, New York-based company reportedly said it will cut a percentage of positions in the low-single digits this year.

IBM closed Wednesday's regular trading at $173.93 down $0.01 or 0.01%. But in the after-hours trading, the stock gained $14.47 or 8.32%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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