According to Jin10, IBM's third-quarter revenue exceeded analyst expectations, rising about 5% year over year to $17.1 billion. The company said most infrastructure orders delayed earlier this year have returned to the signing stage. Infrastructure revenue, including mainframe servers, increased 4% to $3.7 billion, with both figures beating analysts' average estimates. CFO Kavanaugh said about two-thirds of mainframe and related software deals delayed earlier this year had been signed. IBM said customers had temporarily shifted spending to chips and servers amid supply shortages prompted by the artificial intelligence boom, affecting its mainframe and software businesses. Software revenue grew 8.3% to $7.8 billion, above Wall Street's $7.64 billion estimate. For the full year, IBM expects free cash flow to increase by more than $1 billion, compared with its previous forecast of about $1 billion.