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IBM s Kyndryl names global CFO - Strategy
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IBM s Kyndryl Hires Spin-Off Whiz David Wyshner As CFO
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IBM revenue grows for second straight quarter, cheering investors
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IBM Corp. provided the best evidence yet today that it’s back on a growth track, reporting second-quarter revenue rose 3% from a year ago.
Revenue of $18.75 billion was actually flat when adjusted for currency fluctuations and divested businesses, but it was still well ahead of analysts’ estimates of $18.29 billion.
Adjusted earnings rose 7% from a year ago, to $2.33 a share, slightly better than analysts’ estimates of $2.31 a share. It was IBM’s second straight quarter of revenue growth, something that has been in short supply for the computing giant lately. Prior to the first quarter, IBM had reported declining revenue for four quarters in a row and 30 of the past 34 quarters.
IBM Q2 Sales Fueled By Red Hat, ‘Credibility’ Working With AWS, Microsoft
‘Who has the credibility to go across multiple public clouds?’ IBM CEO Arvind Krishna asked rhetorically on the call. ‘Microsoft and Amazon are our partners, not only our competitors. And that is an important play that IBM has done for many, many decades, where we integrate across environments that our clients operate in.’ By Wade Tyler Millward July 19, 2021, 09:51 PM EDT
Red Hat, Cloud Paks, Global Business Services and IBM’s “credibility” working with rivals Amazon Web Services and Microsoft were some of the drivers of IBM’s growth in the tech giant’s recent quarter.
The company s shares were up 2 percent at US$140.73 in extended trading. With the reopening (of economies) in particular around North America and Western Europe, we re seeing a nice rebound in travel and transportation, automotive, industrial and consumer sectors overall, IBM Chief Financial Officer James Kavanaugh told Reuters, adding that more clients spent on digitizing their operations.
After the pandemic battered existing models of business, more enterprises are adopting hybrid cloud , a combination of using their own data centers and leased computing resources to manage and process data.
Sales at IBM s cloud business rose 13 percent to US$7 billion in the reported quarter.
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