Home > Industry > Finance > IBM Reports Growth For The First Time in 22 Quarters

IBM Reports Growth For The First Time in 22 Quarters

IBM has announced its Q4 results for 2017 which sees the company report growth for the first time in 22 quarters with its revenue up 4 per cent to US$22.5bn.

Its cloud revenues increased 30 per cent to US$5.5bn and its cloud revenue over the last 12 months was US$17bn, including US$9.3bn delivered as-a-service and US$7.8bn for hardware, software and services to enable IBM clients to implement comprehensive cloud solution

In the quarter, revenues from analytics increased 9 per cent. Revenues from mobile increased 23 per cent and revenues from security increased 132 per cent.

Since October IBM’s stock price has been slowly gaining traction with it growing 16 per cent, this is due to the company reporting there may be revenue growth for Q4. Currently, its stock price is at US$169.12 on the NYSE up 0.28 per cent.

Ginni Rometty, CEO, president and chairman of IBM says, “Our strategic imperatives revenue again grew at a double-digit rate and now represents 46 per cent of our total revenue, and we are pleased with our overall revenue growth in the quarter. During 2017, we strengthened our position as the leading enterprise cloud provider and established IBM as the blockchain leader for business. Looking ahead, we are uniquely positioned to help clients use data and AI to build smarter businesses.”

James Kavanaugh, SVP and CFO, IBM says, “Over the past several years we have invested aggressively in technology and our people to re-position IBM.  2018 will be all about reinforcing IBM’s leadership position in key high-value segments of the IT industry, including cloud, AI, security and blockchain.”

IBM has been charged US$5.5bn as per the new US tax reforms.

Click here to read the full results.

You may also like
IBM To Acquire Cloud Computing Firm Red Hat For $47 Billion
ACCC Approves Telstra’s Special Services NBN Migration Plan
Start-up Numbers Take A Surprise Dive: New Report
Apple Offers Business Chats
Groupon Pays IBM $57M Over Suit