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