Armonk The computer group IBM has significantly increased sales in the second quarter thanks to strong demand for cloud software and IT services. In the three months to the end of June, revenues increased by nine percent year-on-year to $ 15.5 billion, as IBM announced on Monday after the US stock market closed.
Net income increased from $ 1.3 billion to $ 1.4 billion. However, exchange rate effects have a considerable negative impact on the balance sheet. IBM is adding to the strong dollar, which reduces foreign earnings after conversion into US currency. Without this negative factor, the increase in sales in the most recent quarter would have been 16 percent.
The US dollar is being targeted by investors as a so-called safe haven on the financial market in view of increased geopolitical risks such as the war in Ukraine. In addition, the US Federal Reserve, for example, is significantly ahead of the European Central Bank in its interest rate hike cycle.