IBM third-quarter revenue falls, but tops forecasts on cloud, analytics growth
International Business Machines Corp posted better-than-expected third-quarter revenue on Monday, helped by growth in the company's cloud and analytics businesses.
Under Chief Executive Ginni Rometty, the technology services company has shifted towards more profitable areas, such as cloud services, artificial intelligence, analytics, and security while trimming its traditional hardware and services businesses.
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... read more