LSEG

IBM misses third-quarter revenue estimates as consulting drags; shares fall

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IBM misses third-quarter revenue estimates as consulting drags; shares fall

IBM missed analysts’ estimates for third-quarter revenue on Wednesday, hurt by weakness in its consulting segment as businesses cut back on discretionary expenses, coupled with declines in the infrastructure business. IBM’s shares fell about 4 per cent in extended trading after rising more than 40 per cent this year, as investors bet on the company’s … Read more

AI boom fuels demand for major data centre deals in Asia-Pacific this year

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AI boom fuels demand for major data centre deals in Asia-Pacific this year

In 2023, the region’s data centre deals hit a record high of US$3.45 billion, according to LSEG. That tally is set to be surpassed this year, with at least a couple of large transactions in the pipeline. Data centres are secure, temperature-controlled facilities that house large-capacity servers and data-storage systems, with multiple power sources and … Read more