Cloud keeps looking good for IBM, and flash storage could help in the months ahead
Grazed from GigaOM. Author: Jordan Novet.
IBM reported $23.4 billion in revenue in the first quarter of the year, down more than 5 percent year over year, and $3.03 billion in net income, down 1.1 percent. Analysts had been expecting more than $24 billion in revenue. The company said cloud-computing revenue was up more than 70 percent year over year in the first quarter of 2013, following an 80 percent revenue gain in the previous quarter.
Revenue from software-as-a-Service (SaaS) products, including Tivoli software, were up 65 percent, Mark Loughridge, senior vice president and chief financial officer for finance and enterprise transformation, said during a Thursday call with investors. Revenue coming from enterprises setting up their own private cloud with IBM Infrastructure-as-a-Service (IaaS) offerings was up “more than 75 percent,” Loughridge told investors…

