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IBM CEO Krishna: Hybrid Cloud ‘Transformation’ Already Yielding Results As IBM pursues greater partner engagement around the hybrid cloud opportunity, the company reported a 21-percent increase in total cloud revenue during the first quarter of the year. By Wade Tyler Millward April 19, 2021, 09:29 PM EDT IBM’s investments into its hybrid cloud business and elevating the role of partners are already starting to pay off, IBM CEO Arvind Krishna said Monday. The company reported that revenue for the first quarter of the year, ended March 31, grew 1 percen...

IBM Reports First Quarter Results, Beats Wall Street Expectations IBM has beat Wall Street expectations, returning to revenue growth after four quarters of declines. IBM has been in the process of reinventing itself as a hybrid cloud provider. The company plans to spin off its legacy operations, focusing primarily on its hybrid cloud business, and has been snapping up startups to help drives its transformation. The company’s strategy appears to be paying off as it reported revenue of $17.7 billion, up 1%. The company’s Cloud & Cognitive Software was up 4%. Cloud revenue accounted for $...

13h | Antony Savvas IBM has reported total cloud revenues of $6.5 billion for the first quarter ended 31 March, which is a 21% jump on the same quarter last year. The company's total group sales for the quarter were $17.7 billion, which was a very modest 1% increase on last year as IBM continued to focus on its newer cloud, AI and software markets - including its acquired Red Hat business. Big Blue is still preparing to spin off its managed infrastructure services business. Earlier this month, the firm announced that Kyndryl will be the name of the new independent company created, ex...

by Tyler Durden Tuesday, Apr 20, 2021 - 07:52 AM S&P 500 and Nasdaq 100 stock futures extend declines for a second day, with both down about 0.5% as of 7:00 am in New York as travel and leisure stocks led the move, indicating fresh concerns over reopenings. US futures tracked Europe’s Stoxx 600 index which was 1.1% lower, its biggest drop in a month as a growing tally of virus cases primarily in emerging markets tempered enthusiasm for a global growth rebound. Bond yields fell.  Some notable premarket moves: United Airlines dropped 2.1% after the carrier booked a bigger-than-expected loss ...

IBM shares jump on biggest revenue rise since 2018 CLOUD DEMAND: IBM chief executive officer Arvind Krishna said he is ‘confident’ that IBM will deliver revenue growth in the second quarter and the rest of the year Bloomberg International Business Machines Corp (IBM) shares jumped in extended trading after the company reported its biggest revenue gain in 11 quarters driven by demand for cloud services. Sales increased 1 percent to US$17.7 billion in the first quarter, the Armonk, New York-based company said on Monday in a statement. That beat th...