January 23, 2017 | Written by: Matthew Wilson
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For anyone with any lingering doubts about the rapid growth of cloud computing, look no further than IBM fiscal year 2016 cloud revenue for proof.
Total cloud revenue hit $13.7 billion on the year, which represented a 35 percent increase. The cloud as-a-service annual revenue run rate trended upward to $8.6 billion in 2016, a staggering 63 percent increase.
IBM Chairman, President and Chief Executive Officer Ginni Rometty offered this explanation: “More and more clients are choosing the IBM Cloud because of its differentiated capabilities, which are helping to transform industries, such as financial services, airlines and retail.”
IBM Cloud clients include American Airlines, Finnair, Halliburton, Kimberly Clark, MUFG, Sky, the US Army and WhatsApp.
For more about 2016 IBM earnings in cloud and other areas, check out the infographic below and this press release.