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Earnings Results: IBM posts biggest annual sales increase in more than a decade, announces layoffs

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International Business Machines Corp. increased sales more than 6% in 2022, the biggest sales increase for Big Blue in more than a decade, but its stock fell in extended trading Wednesday.

IBM IBM reported fourth-quarter earnings of $2.71 billion, or $3.13 a share, on revenue of $16.7 billion, in line with about $16.7 billion in the same quarter a year ago. After adjusting for acquisition- and retirement-related costs and other charges, IBM reported earnings of $3.60 a share, up from adjusted earnings of $3.35 a share in…

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