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IBM notched up its fourth straight quarter of revenue decline as the areas it deems strategic – hybrid cloud, AI and blockchain – couldn't paper over cracks in the legacy operations of big iron and outsourcing.
That said, in Q2 2019, Big Blue took actions to "de-emphasise" its lower-margin services contracts and continued to wind down the OEM commercial financing portfolio, feeding into higher than expected profits. The IT giant also got $575m from selling software assets but this was negated by the cost of layoffs and a legal ruling that went against it.
Revenue - Cent - Year-on-year - Months - June
Revenue fell 4.2 per cent year-on-year to $19.16bn for the three months ended 30 June. IBM recently completed the purchase of Red Hat but numbers from the open-source software business were not included.
On Wednesday this week, amid the release of Big Blue's second-quarter numbers, IBM CFO Jim Kavanaugh preferred to discuss the buy on a conference call with analysts rather than linger on the lack of progress in turnover.
Acquisition - Milestone - IBM - Cloud - Landscape
"This acquisition is an important milestone for IBM and one that will significantly impact the cloud landscape. It is clear that the next chapter of cloud will be about shifting mission-critical work to the cloud and optimising everything from supply chains to core banking systems. This requires a hybrid, multi-cloud, open approach to provide portability, management consistency, and security for these enterprise workloads."
So far services include IBM Cloud, IBM Cloud Private, the Cloud Migration Factory, Cloud Application Innovation, IBM Garages, IBM Multicloud Manager, and Cloud Optimized Systems "with tens of thousands of cloud architects", said the CFO. So how did the division that houses all those services that IBM has bet its future on do? OK.
Cloud - Cognitive - Software - Cent - Cloud
Cloud & Cognitive Software grew just 3.2 per cent to $5.6bn. Within this, cloud and data platform was up 5 per cent, cognitive apps grew...
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