IBM’s quarterly results beat expectations and spent 6.4 billion US dollars to acquire cloud software vendors.

The US technology service provider, International Business Machines (IBM), announced that the profit in the first quarter of this year was reported at 1.61 billion yuan (in US dollars, the same below), and the profit in the same period last year was 927 million yuan; during this period, the earnings per share after adjusted were recorded at 1.68 yuan, which was expected to be 1.6 yuan; the revenue was reported at 14.46 billion yuan, an annual increase of 1.5%, and the expected was 14.55 billion yuan.

The company also announced that it would acquire the cloud software vendor HashiCorp at a price of 35 yuan per share, and the transaction amount involved 6.4 billion yuan.

After the news was announced, the stock price of the group dropped by more than 8% during the extended trading session after the market on Wednesday, and the whole day closed up by 1.1%.

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