IBM's (IBM) recently reported its fourth quarter earnings that surpassed market expectations and sent the stock climbing 7% higher in the after-hours session. This also was the first time since 2011 that the company reported growth in revenues for the full year. Its robust performance was driven by growth in the cloud segment - an area of focus for IBM's turnaround strategy.
IBM's Financials
Revenues for the fourth quarter fell 3.5% to $21.76 billion, ahead of the Street's forecast of $21.73 billion. Adjusted earnings of $4.87 for the quarter also were better than the Street's