IBM Third-Quarter Revenue Grows About 5%; Infrastructure Order Resurgence Drives Better-Than-Expected Results

IBM's third-quarter revenue exceeded analysts' expectations, as most previously delayed infrastructure orders have been rebooked, indicating that the related business is recovering. IBM reported after the bell on Wednesday that revenue for the quarter ended September 30 grew about 5% to $17.1 billion. Revenue from the infrastructure business, including mainframe servers, rose 4% to $3.7 billion, both above the average analyst estimates compiled by Bloomberg. IBM Chief Financial Officer Jim Kavanaugh said in an interview that about two-thirds of the mainframe and related software deals delayed earlier this year have now been signed.