Overview

• IBM reported Q2 revenue of $15.8 billion, exceeding analyst expectations.
• AI-driven software revenue grew by 7%, reaching $6.74 billion.
• IBM's generative AI business expanded to $2 billion in bookings and sales.
• The mainframe segment saw an 8% increase in revenue, aided by AI capabilities.
• Consulting revenue fell by 1% due to economic pressures and reduced discretionary spending.