Last month, IBM put out its most recent earnings report – and one statistic stood out. For the first time in more than five years, revenue did not decline from the previous year’s quarter.
Cloud revenue was $17 billion for the year, while run rate in the company’s as-a-service offerings was more than $10bn. Speaking to analysts, James Kavanaugh, IBM senior VP and chief financial officer, said the company was ‘doing a lot of work to reposition [the] business, to help move clients to the future, investing, shifting skills and reallocating capital… in short, a lot of heavy lifting.’
