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Red Hat and off-prem see growth while revenue, profit down overall Share Copy IBM on Thursday reported $20.4bn in revenue for its Q4 2020 earnings results, a decline of six per cent, and $73.6bn for the full year, down 4.6 per cent year-on-year. That led to profits plummeting by 42 per cent for the year, even after it experienced cloud growth in certain areas. Financial analysts had anticipated something more like $20.67bn on average, leading to disappointment that manifested in an after-hours share price decline of about six per cent. CEO Arvind Krishna, who took over in April 2020, ...

3 months ago ARMONK, N.Y.–(BUSINESS WIRE)–  IBM (NYSE: IBM) today announced fourth-quarter and full-year 2020 earnings results. “We made progress in 2020 growing our hybrid cloud platform as the foundation for our clients’ digital transformations while dealing with the broader uncertainty of the macro environment,” said Arvind Krishna, IBM chairman and chief executive officer. “The actions we are taking to focus on hybrid cloud and AI will take hold, giving us confidence we can achieve revenue growth in 2021.” Highlights GAAP EPS from continuing ...

CEO Arvind Krishna: IBM To Invest $1B In Cloud Ecosystem, ‘Elevating The Role Of Partners’ “The channel is quite capable,” said IBM CEO Arvind Krishna on the company’s fourth quarter earnings call. “I would rather put more money into the channel and work with them to go after that [market].” By Steven Burke January 21, 2021, 08:56 PM EST IBM CEO Arvind Krishna Thursday said the company is investing $1 billion in “rapidly expanding” its partner ecosystem as it sharpens its focus on hybrid cloud and artificial intelligence (AI). “To accelera...

Operator Welcome, and thank you for standing by. [Operator instructions] Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now, I would like to turn the meeting over to Ms. Patricia Murphy with IBM. Ma'am, you may begin. Patricia Murphy -- Vice President, Finance and Operations Thank you. This is Patricia Murphy, and I'd like to welcome you to IBM's fourth-quarter 2020 earnings presentation. I'm here with Arvind Krishna, IBM's chairman and chief executive officer; and Jim Kavanaugh, IBM's senior vice president and chief financial officer. We'l...