January 25, 2019 | Written by: Matthew Wilson
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IBM this week announced 2018 fourth quarter earnings that outpaced analyst expectations, including total cloud revenue for the year of $19.2 billion. That’s a 12 percent increase over IBM Cloud earnings in 2017.
The New Economy reported, “The optimism surrounding the Q4 earnings report owes much to IBM’s cloud computing business, which along with social, mobile and analytics made up half of the company’s revenue in 2018.”
In the first few weeks of 2019, IBM Cloud has announced several client agreements that continue its momentum, including:
The New Economy quoted KeyBanc Capital Markets’ analyst Arvind Ramnani as saying the planned Red Hat acquisition “propels IBM as a leading cloud provider”.
For more on IBM fourth quarter earnings, read the full story at The New Economy.