"Our solid fourth-quarter performance capped a year in which we grew revenue above our mid-single digit model. Clients in all geographies increas

IBM RELEASES FOURTH-QUARTER RESULTS

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2023-01-25 22:00:10

"Our solid fourth-quarter performance capped a year in which we grew revenue above our mid-single digit model. Clients in all geographies increasingly embraced our hybrid cloud and AI solutions as technology remains a differentiating force in today's business environment," said Arvind Krishna , IBM chairman and chief executive officer. "Looking ahead to 2023, we expect full-year revenue growth consistent with our mid-single digit model."

"IBM's revenue growth and operating profit in 2022 demonstrate the strength and multiplier effect of our platform-centric approach to hybrid cloud and AI," said James Kavanaugh , IBM senior vice president and chief financial officer. "Our client-focused portfolio and strong recurring revenue stream position IBM well for continued growth, solid cash generation and returning value to shareholders through dividends."

Cash Flow and Balance Sheet On a consolidated basis, in the fourth quarter, the company generated net cash from operating activities of $4.0 billion , up $1.4 billion . Net cash from operating activities excluding IBM Financing receivables was $5.8 billion , up $1.9 billion . IBM's free cash flow was $5.2 billion , up $1.9 billion . The company returned $1.5 billion to shareholders in dividends in the fourth quarter.