24 October, 2016
IBM Reports $19.23 Billion Q3 Revenue On Strong Cloud, Analytics, and Security Growth
(Reuters) – International Business Machines Corp reported better-than-expected quarterly revenue, helped by continued growth in the company’s cloud and analytics businesses.
Under Chief Executive Ginni Rometty, the company has shifted towards more profitable areas such as cloud services, analytics, and security.
Revenue from those areas, which the company calls “strategic imperatives”, rose 16 percent to $8 billion in the third quarter.
Cloud revenue jumped 44 percent, compared with a 30 percent rise in the second quarter.