IBM also collaborated with VMware, Inc. to assist global clients and partners in improving mission-critical workloads alongside accelerating time-to-value in hybrid cloud environments. The company further expanded its partner relationships in AI, network automation and security to help the telecommunications industry evolve as 5G and Edge Computing take center stage. In addition, the company is likely to have recorded lower revenues in the Global Technology Services segment owing to challenging macroeconomic conditions and rising inflationary pressures.