IBM Quarter 3 report shows profits in cloud revenue

IBM Quarter 3 report shows profits in cloud revenue-01

IBM has published third-quarter financial results, showing continued profits in the cloud revenue but declining in IBM Z and Power plans.

The business technology giant brought in a non-GAAP EPS of $ 2.52 of $ 17.6 billion in revenue, up 1% year on year. Analysts were expecting a salary of $ 2.49 per share of $ 17.79 billion in revenue. IBM said total revenue for cloud and intelligence software was $ 5.7 billion per quarter, up 2.5%.

At the same time, program revenue fell 11.9% to $ 1.1 billion, driven by the decline of IBM Z and Power programs. Storage Systems Grow by 11%.

Arvin Krishna, IBM chairman and chief executive officer said, “With the separation of Kindly early next month, IBM takes the next step in our evolution as a platform-centric hybrid cloud and AI company.”

Source: https://www.zdnet.com/article/ibm-q3-report-shows-gains-in-cloud-revenue-declines-in-ibm-z/

Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.

Previous articleSeagate’s shares jump after quarterly profit more than doubles
Next articleKrystal announces its ‘1 billion tree pledge’ to help fight climate emergency