IBM’s latest quarterly earnings filing coincided with the company’s plans to spend $6.4bn acquiring HashiCorp.
IBM reported revenue of $14.5bn, up 1% from the same quarter in 2023, with software revenue growing 5% to $5.9bn. Automation, with growth of 14%, was the biggest contributor to IBM’s software revenue; meanwhile, Red Hat grew 9%.
IBM chairman and CEO, Arvind Krishna, described the acquisition of HashiCorp as “a tremendous strategic fit”.
“Enterprise clients are wrestling…