IBM‘s second quarter results suggest economic recovery may take longer than the company originally hoped for as revenue continues to dip, though there was a substantial rise in cloud revenue.
IBM’s Q2 results showed total revenue decreased by 5.4 percent to $18.1bn, total cloud revenue increased by 30 percent to $6.3bn, and Red Hat revenue was up by 17 percent.
Arvind Krishna, chief executive officer at IBM, said: “Our clients see the value of IBM’s hybrid cloud platform, based on open technologies, at a time of unprecedented business disruption. We are committed to building, with a growing ecosystem of partners, an enduring hybrid cloud platform that will serve as a powerful catalyst for innovation for our clients and the world.”
