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Why IBM Stock Popped Today

TheMotleyFool

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Shares of IBM (NYSE: IBM) rose 3.8% on Tuesday, following the release of the technology titan's first-quarter results.

IBM's revenue rose 1% year over year to $17.7 billion, besting Wall Street's expectations for $17.4 billion. The gains were fueled by a 21% jump in IBM's total cloud revenue, to $6.5 billion.

"Strong performance this quarter in cloud, driven by increasing client adoption of our hybrid cloud platform, and growth in software and consulting enabled us to get off to a solid start for the year," CEO Arvind Krishna said in a press release.

Source Fool.com

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