IBM Says Cloud, Mobile and Data Businesses Will Reach $40 Billion by 2018
February 26, 2015
Grazed from ReCode. Author: Arik Hesseldahl.
Computing and IT services giant IBM will spend $4 billion on its cloud services, data analytics and mobile businesses in a bid to turn it into what CEO Ginni Rometty said will be a $40-billion-a-year-in-revenue business by 2018.
On a conference call ahead of its annual investors presentation in New York, Rometty said the three businesses, which she referred to as IBM’s “strategic imperatives,” have grown in overall importance as it has divested itself of its older traditional business units. Five years ago the divisions amounted to 13 percent of IBM’s sales, Rometty said. By the start of 2015 they accounted for 27 percent…
IBM’s sales declined last year to $93 billion from about $100 billion the year before in part because of slowdowns in some of its traditional computing hardware and software businesses, but also because it has been selling off business units. In 2014 it sold a server business unit to Lenovo and its chip-manufacturing assets to GlobalFoundries…
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