International Business Machines (NYSE: IBM) stock is gaining Thursday despite the broader tech sector seeing substantial sell-offs. The company's share price was up 3.9% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, the Nasdaq Composite index was down roughly 1.8%.

On Wednesday, IBM reported its third-quarter financial results. The company posted non-GAAP (adjusted) earnings per share of $2.20 on sales of $14.8 billion. Meanwhile, the average analyst estimate had called for per-share earnings of $2.13 on revenue of roughly $14.7 billion. In addition to the Q3 beat, the tech giant also announced a new generative artificial intelligence (AI) tool for coding.

IBM's revenue rose 5% year over year in Q3. Software sales were up 8%, and consulting revenue was up 6%. On the other hand, infrastructure revenue was down 2%. 

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Source Fool.com