Industry

IBM Cloud revenue jumps by 33 percent

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IBM reported cloud revenue growth of 33 percent year-over-year in its first-quarter earnings released Tuesday.

Adjusting for currency, cloud revenue grew by 35 percent, up to $3.5 billion. Total cloud revenue over the past 12 months reached $14.6 billion, putting IBM ahead of competitors in the field of enterprise cloud.

Cloud revenue Q1

Specifically in the arena of cloud-as-a-service, the annual exit run rate increased to $8.6 billion from $5.4 billion in the first quarter of last year.

“In the first quarter, both the IBM Cloud and our cognitive solutions again grew strongly, which fueled robust performance in our strategic imperatives,” said Ginni Rometty, IBM chairman, president and CEO.

The company also saw strong growth in strategic imperatives, which were up 12 percent year-over-year, driven in part by hybrid cloud services.

Find out more about IBM revenue in cloud, strategic imperatives and other areas in the infographic below.

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