Industry

IBM Cloud revenue jumps by 33 percent

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.

Share this post:

Add Comment
No Comments

Leave a Reply

Your email address will not be published.Required fields are marked *

More Industry Stories

Cloud computing’s turning point: The innovation phase has begun

In the past, when I’ve spoken to clients about cloud computing, those conversations were mostly with line-of-business managers focused on cutting costs and getting new, customer-facing applications up and running quickly. Today, the tide has turned, as chief executives and other line leaders want to know how cloud computing can help them transform their entire […]

Continue reading

Why Celanese moved to a cloud managed services solution

Celanese Corporation reduced operational costs by more than 50 percent while improving response to workload demands and delivering superior service levels for its managed infrastructure by switching to a cloud managed services solution. Now the chemical company can reallocate these cost savings to drive innovation, strategy and an increased emphasis on security. Based in Dallas, […]

Continue reading

“Toon” into these InterConnect highlights

I recently asked IBM employees for some of their questions about InterConnect, which kicks off next Monday. We had so much fun inside IBM preparing the answers, we thought we’d share it with the world. Check out this brief video to learn the top 5 things I think you should check out InterConnect this year. […]

Continue reading