IBM cloud transition keeps showing growing pains

January 20, 2016 Off By David

Grazed from MarketWatch. Author: Robert McMillan.

International Business Machines Corp. spent much of 2015 lowering investor expectations, but the company closed the year with financial results that, while not sterling, contained a few bright spots. Revenue at the 104-year-old computer maker fell 8.5% to $22.06 billion in the fourth quarter of 2015, making for 15 straight quarters of declining sales. Still, the top line came in better than the $22.02 billion Wall Street expected.

The cloud computing, data analytics, security and mobile computing products on which IBM has bet its future grew at a strong pace. Those businesses accounted for about 35% of IBM’s full-year 2015 revenue, or $28.9 billion, said IBM Chief Financial Officer Martin Schroeter. "We’re transforming a big company," Mr. Schroeter said in an interview on Tuesday. "We’ve always said that this was going to take time."…

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