The revenue growth of IBM, the global software and services company, contributed to a 7% increase in the company's shares at the close of trading on Monday.
The company achieved revenues of about $16.7 billion in the fourth quarter of 2021, up 6%, exceeding analyst expectations that were revolving around $15.96 billion, according to Refinitiv. .
The company showed the fastest revenue growth since the third quarter of 2011.
The company's net income in the fourth quarter jumped 72%, year-over-year, to $2.33 billion.
IBM CEO Arvind Krishna reiterated the single-digit medium growth target during a conference call with analysts.
Krishna said he expects between $10 billion and $10.5 billion in free cash flow for 2022.
