NEW YORK: International Business Machines Corp shares jumped in extended trading after the company reported its biggest revenue gain in eleven quarters, driven by demand for cloud services and suggesting chief executive officer Arvind Krishna’s turnaround plan is starting to bear fruit.
Sales increased 1% to US$17.7bil (RM72.5bil) in the three months ended March 31, the Armonk, New York-based company said Monday in a statement. That beat the US$17.3bil analysts had forecast, on average, according to data compiled by Bloomberg.