IBM Shares Jump on Strong Sales Outlook, AI Bookings

(Bloomberg) — International Business Machines Corp. gained in extended trading after projecting strong revenue growth in the new fiscal year and a jump in AI-related bookings.

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For the fiscal year ending in December 2025, Big Blue said it expects $13.5 billion in free cash flow. That’s above the $12.9 billion anticipated by Wall Street. Revenue will expand at least 5% in constant currency, although current exchange rates would dent that expansion by two…