The Globe and Mail reports in its Thursday, July 25, edition that IBM beat analysts' estimates for second quarter revenue on Wednesday. A Reuters dispatch to The Globe reports that IBM posted revenue of $15.77-billion, compared with analysts' average estimate of $15.62-billion (all figures U.S.). IBM has focused on expanding its Watsonx platform that allows users to employ chatbots or enhance code for artificial intelligence programs, while also making its Granite family of AI models open-source to help popularize its AI services. Sales in the software segment increased about 7 per cent to $6.74-billion. About 75 per cent of the revenue was recurring, said chief financial officer James Kavanaugh. IBM's AI book of business -- a combination of bookings and actual sales across various products -- grew to $2-billion, of which about $1-billion was added in the second quarter. Consulting made up 75 per cent of the AI book with the rest coming from software, Mr. Kavanaugh said. Still, consulting revenue fell about 1 per cent to $5.18-billion. Big Blue's shares have risen about 12 per cent so far this year, as investors bank on a rally in AI-facing shares to drive gains for IBM.