IBM shares rose slightly on Friday to their highest level in more than six months as its chairman defended the firm’s growth outlook in China.
The company said on Friday that its net profit had grown at an annualised rate of 8.6% in the past three months, driven by strong net sales growth.
Its results also showed that IBM’s share price rose to an all-time high in December.IBM shares rose to a record $1.12, up 9.4% on Friday from $1 in late 2016.
The stock gained more than 12% from the opening bell on Tuesday.IBMs shares have climbed more than 80% since the end of last year and are up nearly 60% since they hit a record low on October 1, the day of the US presidential election.
