NEW YORK — IBM reported its first quarter of revenue growth in more than five years as the company ramps up its cloud computing business and looks for new opportunities from its investments in artificial intelligence.
“Over the past several years we have invested aggressively in technology and our people to reposition IBM,” James Kavanaugh, IBM’s new chief financial officer, said in a statement Thursday after the company reported its fourth-quarter earnings.
The company still reported a quarterly loss of $1.05 billion, reflecting a $5.5 billion charge associated with recent tax legislation. IBM reported a $4.5 billion profit in the same period a year earlier.
The technology and consulting company posted revenue of $22.54 billion in the period, which topped Wall Street forecasts. Six analysts surveyed by Zacks expected $21.96 billion.
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