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USA : The cloud saves IBM
USA : The cloud saves IBM ;Sales are falling, profits are falling - and yet IBM can convince the market with its quarterly figures
Yazar: Zack Smith
Yayınlanma: 21 Temmuz 2020 14:14
Güncellenme: 22 Kasım 2024 02:43
USA : The cloud saves IBM
Sales are falling, profits are falling - and yet IBM can convince the market with its quarterly figures. The reason: analysts had expected even worse values. The cloud business is also proving to be a lifeline. This ensures course fantasy.
The IT service provider IBM has to make significant cuts in the coronavirus crisis. Thanks to a flourishing cloud business, the US group has so far performed significantly better than expected. In the second quarter, sales decreased 5.4 percent year-over-year to $ 18.1 billion, Big Blue said. Net income slumped 46 percent to $ 1.4 billion.
Despite the sharp losses, the computer veteran clearly exceeded the forecast of Wall Street analysts. This was mainly due to strong growth in the lucrative cloud division with IT services and storage space on the Internet. Here, revenues increased by almost 30 percent. The stock initially reacted after the exchange with a price increase of more than five percent.
IBM has been weakening in the traditional core hardware business with servers and mainframes for a long time, but is nevertheless posting strong growth in new business areas such as cloud services, data analysis and artificial intelligence.
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