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.”


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