Financial Performance And Margin ExpansionIBM highlighted that it now expects its FY24 PTI margins to improve by 100 basis points year-over-year, up from 50 basis points at the beginning of the year, indicating strong financial performance.
Generative AI And Strategic PartnershipsIBM's AI book of business expanded to over $3 billion, supported by strategic digital transformation deals and positioning the company as a trusted advisor for customers starting their AI journey.
Software Revenue GrowthIBM raised its expectations of Software revenue growth in FY24F to high-single digits due to early traction in GenAI and strength in the recurring revenue base, which is above consensus expectations.