IBM increased revenue in the first quarter
The revenue of the US technology company IBM increased by 1 percent to 14.5 billion dollars in the first quarter of this year. In the statement, it was announced that IBM will purchase the software company HashiCorp for 6.4 billion dollars.
IBM announced its balance sheet for the January-March period.
Accordingly, the company’s revenue in the first quarter of this year increased by 1 percent compared to the same period last year, reaching 14.5 billion dollars. IBM had revenue of $14.3 billion in the first quarter of 2023.
The company’s net profit increased by 73 percent in the first quarter of the year compared to the same period last year, reaching 1.6 billion dollars. IBM’s net profit was calculated as 927 million dollars in the first quarter of last year.
The company’s profit per share, which was 1.02 dollars in the first quarter of last year, was recorded as 1.75 dollars in the first quarter of this year.
IBM buys HashiCorp
On the other hand, in the statement made by the company, it was announced that IBM intends to purchase the software company HashiCorp for $ 6.4 billion in cash of $ 35 per share, and that the acquisition is expected to be completed by the end of 2024.
IBM Chief Executive Irvind Krishna, whose statements were included in the statement, stated that they announced their intention to acquire HashiCorp to strengthen the company’s position in the hybrid cloud and artificial intelligence-focused technology environment, and said that the merger of the two companies’ portfolios will enable customers to manage the increasing application and infrastructure complexity and prepare for the age of artificial intelligence. He emphasized that it will help them create a comprehensive hybrid cloud platform.