IBM reports $20 bn revenue in Q2, achieving growth in three straight quarters

IBM reported revenue of $20 billion (+2 percent) in the first quarter of 2018 – driven by Cloud business, global business services and Cognitive solutions.

Armonk, New York-based IBM achieved revenue growth in three straight quarters after falling for nearly six years, Reuters reported.
IBM posted revenue of $4.580 billion from Cognitive Solutions, $4.192 billion from Global Business Services, $8.615 billion from Technology Services & Cloud Platforms, $2.177 billion from Systems and $394 million from Global Financing.

IBM said revenues from analytics rose 7 percent to $5.4 billion; revenues from mobile grew 5 percent to $1.3 billion; and revenues from security surged 81 percent to $1 billion in the second quarter of 2018.

“More clients are engaging IBM on their journey to the cloud, and deploying IBM Cloud, Watson AI, analytics, blockchain and security solutions. This demonstrates IBM’s unique leadership in providing innovative technology coupled with deep industry expertise, trust and security,” IBM CEO Ginni Rometty said.

IBM management cannot cheer now because growth in Cognitive Solutions was flat; growth in Global Business Services was 2 percent; Technology Services & Cloud Platforms growth was 2 percent; and Systems revenue rose 25 percent.

Strategic Imperatives Revenue

IBM said Strategic imperatives revenue over the last 12 months was $39 billion, up 15 percent.

IBM’s cloud revenue over the last 12 months was $18.5 billion, up 23 percent, with $8.2 billion from hardware, software and services to enable IBM clients to implement hybrid cloud solutions across public, private and multi-cloud environments, and $10.4 billion delivered as a service.

IBM said the annual exit run rate for as-a-service revenue increased in the quarter to $11.1 billion, up 26 percent.

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