International Business Machines Corp beat analysts’ estimates for second-quarter profit last week, propped up by recurring growth in its high-margin cloud business.
The company is relying on its cloud business in the face of slowing growth in its legacy businesses, including mainframes and storage systems.
The previous week, it wrapped up its $34 billion acquisition of Linux maker Red Hat Inc, its biggest deal so far, to expand its subscription-based software offerings.
Revenue from cloud...
Cloud growth fuels IBM profit beat - The Nation
The company is relying on its cloud business in the face of slowing growth in its legacy businesses, including mainframes and storage systems.
The previous week, it wrapped up its $34 billion acquisition of Linux maker Red Hat Inc, its biggest deal so far, to expand its subscription-based software offerings.
Revenue from cloud...
Cloud growth fuels IBM profit beat - The Nation