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2021-07-20

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IBM quarterly revenue beats on cloud strength, shares rise

(Reuters) -IBM reported second-quarter revenue on Monday that beat analysts’ estimates, as a recover

IBM quarterly revenue beats on cloud strength, shares rise

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href=\"https://laohu8.com/S/IBM\">IBM</a> reported second-quarter revenue on Monday that beat analysts’ estimates, as a recovery in client spending powered strong growth in its cloud and consulting businesses.</p>\n<p>The company’s shares were up 3.5% at $142.75 in extended trading.</p>\n<p>“With the reopening (of economies) in particular around North America and Western Europe, we’re seeing a nice rebound in travel and transportation, automotive, industrial and consumer sectors overall,” IBM Chief Financial Officer James Kavanaugh told Reuters, adding that more clients spent on digitizing their operations.</p>\n<p>After the pandemic battered existing models of business, more enterprises are adopting “hybrid cloud”, a combination of using their own data centers and leased computing resources to manage and process data.</p>\n<p>Sales at IBM’s cloud business rose 13% to $7 billion in the reported quarter.</p>\n<p>Seeing a $1 trillion market opportunity in “hybrid-cloud”, IBM has been 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shares were up 3.5% at $142.75 in extended trading.\n“With the reopening (of economies) in particular around North America and Western Europe, we’re seeing a nice rebound in travel and transportation, automotive, industrial and consumer sectors overall,” IBM Chief Financial Officer James Kavanaugh told Reuters, adding that more clients spent on digitizing their operations.\nAfter the pandemic battered existing models of business, more enterprises are adopting “hybrid cloud”, a combination of using their own data centers and leased computing resources to manage and process data.\nSales at IBM’s cloud business rose 13% to $7 billion in the reported quarter.\nSeeing a $1 trillion market opportunity in “hybrid-cloud”, IBM has been investing aggressively in cloud and artificial intelligence-focused ventures, while also shedding its slow-growing, yet huge, managed infrastructure business.\nSince the beginning of the year, the company has spent about $3 billion on eight acquisitions, 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IBM quarterly revenue beats on cloud strength, shares rise

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