Industry
IBM Cloud revenue up 12 percent in 2018
January 25, 2019 | Written by: Matthew Wilson
Categorized: Industry
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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:
- A just-announced, $260 million, multi-year services agreement with the Bank of the Philippine Islands by which IBM will provide IT infrastructure services to support an agile IT and hybrid cloud, as well as digital development capabilities.
- An agreement with France’s largest bank, BNP Paribas, to make IBM its premier cloud provider and increase its use of IBM Cloud services.
- A $550 million agreement with Vodafone to provide managed services to Vodafone Business’ cloud and hosting unit.
- A $325 million agreement with Juniper Networks to assist in the management of multiple cloud environments.
- Red Hat shareholders voted to approve its proposed acquisition by IBM.
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.
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