You are here: Home » Reuters » News
Business Standard

IBM revenue beats estimates on cloud, analytics growth

Reuters 

(Reuters) - International Business Machines Corp reported better-than-expected quarterly revenue, helped by continued growth in the company's cloud and analytics businesses.

Under Chief Executive Ginni Rometty, the company has shifted towards more profitable areas such as cloud services, analytics, and security.

Revenue from those areas, which the company calls "strategic imperatives", rose 16 percent to $8 billion in the third quarter.

Cloud revenue jumped 44 percent, compared with a 30 percent rise in the second quarter.

The company also maintained its full-year adjusted earnings forecast of at least $13.50 per share.

Shares of were marginally lower at $153.50 in after-market trading on Monday.

reported its smallest drop in quarterly revenue in more than four years.

The company's revenue marginally fell to $19.23 billion in the quarter ended Sept. 30 from a year earlier, but beat the average analyst estimate of $19 billion, according to Thomson Reuters I/B/E/S.

Net income fell to $2.85 billion, or $2.98 per share, from $2.95 billion, or $3.01 per share.

Excluding items, earned $3.29 per share, beating analysts' average estimate of $3.23 per share.

Up to Monday's close, the Dow component's shares had risen nearly 12.5 percent this year, outperforming the 3.8 percent gain in the broader index <.DJI>.

(Reporting by Narottam Medhora and Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

IBM revenue beats estimates on cloud, analytics growth

(Reuters) - International Business Machines Corp reported better-than-expected quarterly revenue, helped by continued growth in the company's cloud and analytics businesses.

(Reuters) - International Business Machines Corp reported better-than-expected quarterly revenue, helped by continued growth in the company's cloud and analytics businesses.

Under Chief Executive Ginni Rometty, the company has shifted towards more profitable areas such as cloud services, analytics, and security.

Revenue from those areas, which the company calls "strategic imperatives", rose 16 percent to $8 billion in the third quarter.

Cloud revenue jumped 44 percent, compared with a 30 percent rise in the second quarter.

The company also maintained its full-year adjusted earnings forecast of at least $13.50 per share.

Shares of were marginally lower at $153.50 in after-market trading on Monday.

reported its smallest drop in quarterly revenue in more than four years.

The company's revenue marginally fell to $19.23 billion in the quarter ended Sept. 30 from a year earlier, but beat the average analyst estimate of $19 billion, according to Thomson Reuters I/B/E/S.

Net income fell to $2.85 billion, or $2.98 per share, from $2.95 billion, or $3.01 per share.

Excluding items, earned $3.29 per share, beating analysts' average estimate of $3.23 per share.

Up to Monday's close, the Dow component's shares had risen nearly 12.5 percent this year, outperforming the 3.8 percent gain in the broader index <.DJI>.

(Reporting by Narottam Medhora and Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

IBM revenue beats estimates on cloud, analytics growth

(Reuters) - International Business Machines Corp reported better-than-expected quarterly revenue, helped by continued growth in the company's cloud and analytics businesses.

Under Chief Executive Ginni Rometty, the company has shifted towards more profitable areas such as cloud services, analytics, and security.

Revenue from those areas, which the company calls "strategic imperatives", rose 16 percent to $8 billion in the third quarter.

Cloud revenue jumped 44 percent, compared with a 30 percent rise in the second quarter.

The company also maintained its full-year adjusted earnings forecast of at least $13.50 per share.

Shares of were marginally lower at $153.50 in after-market trading on Monday.

reported its smallest drop in quarterly revenue in more than four years.

The company's revenue marginally fell to $19.23 billion in the quarter ended Sept. 30 from a year earlier, but beat the average analyst estimate of $19 billion, according to Thomson Reuters I/B/E/S.

Net income fell to $2.85 billion, or $2.98 per share, from $2.95 billion, or $3.01 per share.

Excluding items, earned $3.29 per share, beating analysts' average estimate of $3.23 per share.

Up to Monday's close, the Dow component's shares had risen nearly 12.5 percent this year, outperforming the 3.8 percent gain in the broader index <.DJI>.

(Reporting by Narottam Medhora and Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard