IBM revenue jumps 14% to $14.2 bn lifted by hybrid cloud

IBM posted 8 percent increase in revenue to $14.2 billion during the first quarter of 2022 as demand for hybrid cloud and AI drove growth in both Software and Consulting.
IBM Cloud for CIOsIBM’s Hybrid cloud revenue increased 14 percent to $5 billion in Q1 2022. In the last 12 months, IBM’s Hybrid cloud revenue rose 17 percent to $20.8 billion.

“Demand for hybrid cloud and AI drove growth in both Software and Consulting.  We’re a more focused business and our results reflect the execution of our strategy,” said Arvind Krishna, IBM chairman and chief executive officer. “We are off to a solid start for the year, and we now see revenue growth for 2022 at the high end of our model.”

Segment Results for First Quarter

Software (includes Hybrid Platform & Solutions, Transaction Processing)— revenues of $5.8 billion, up 12.3 percent
— Red Hat up 18 percent, up 21 percent
— Automation up 3 percent, up 5 percent
— Data & AI up 2 percent, up 4 percent
— Security up 5 percent, up 8 percent
– Transaction Processing up 26 percent
– Software segment hybrid cloud revenue up 22 percent

Consulting (includes Business Transformation, Technology Consulting and Application Operations)—  revenues of $4.8 billion, up 13.3 percent
– Business Transformation up 15 percent
– Technology Consulting up 14 percent
– Application Operations up 10 percent
– Consulting segment hybrid cloud revenue up 24 percent

Infrastructure (includes Hybrid Infrastructure, Infrastructure Support)—  revenues of $3.2 billion, down 2.3 percent
– Hybrid Infrastructure down 5 percent
— IBM z Systems down 19 percent
— Distributed Infrastructure up 5 percent
– Infrastructure Support flat, up 4 percent
– Infrastructure segment hybrid cloud revenue down 20 percent

Financing (includes client and commercial financing)— revenues of $0.2 billion, down 26.2 percent.

Related News

Latest News

Latest News