IBM quarterly sales growth highest in over two years on cloud strength

By Munsif Vengattil and Chavi Mehta (Reuters) - International Business Machines Corp recorded highest quarterly sales growth in more two years and beat Wall Street targets on Monday, boosted by its bets in the high-margin cloud computing business. Shares of the Dow component, which have gained nearly 6% so far this year, were up more than 3% in extended trading. Finance chief James Kavanaugh said cloud spending by clients in retail, manufacturing and travel industries in the United States was picking up after the initial pandemic-driven slump

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