Here are six things to know:
1. IBM posted $20 billion in revenue for the second quarter of fiscal year 2018 ended June 30.
2. Most of the tech giant’s revenue heiled from its strategic imperatives areas — such as artificial intelligence, cloud computing and data analytics — which reported revenues of $10.1 billion. Of that, its cloud division generated $4.7 billion in revenue, up 20 percent year-over-year.
3. IBM’s cognitive solutions division reported $4.58 billion in revenue, a 1 percent decrease from the same period one year prior.
4. The second quarter saw a 46.5 percent gross margin.
5. On an earnings call with investors, company leaders confirmed layoffs affected its Watson Health group, CNBC reports.
6. IBM stock fluctuated before surpassing more than 2.5 percent beyond the $144.52 closing price after the company reported its results. Overall, IBM stock is down 6 percent since the beginning of 2018, according to CNBC.
More articles on business:
Walmart may launch video streaming service for $8 a month, report says
Papa John’s reportedly in merger talks with Wendy’s prior to founder’s scandal
Amazon sells 100M products in biggest Prime Day ever
