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Market movers: Stocks seeing action on Friday - and why

Market movers: Stocks seeing action on Friday - and why
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IBM Shares Tumble After Another Quarterly Revenue Decline

IBM Shares Tumble After Another Quarterly Revenue Decline Meanwhile, total cloud revenue increased 10 percent to $7.5 billion, the most revenue from cloud yet for IBM. Bloomberg | Jan 22, 2021 Brody Ford (Bloomberg) International Business Machines Corp. shares fell the most in 10 months after the company reported a greater sales decline in the fourth quarter than analysts had expected, signaling Chief Executive Officer Arvind Krishna’s turnaround plan may take more time. Sales fell 6.5% to $20.4 billion in the three months ended Dec. 31, the Armonk, New York-based company said Thursday in a statement. That was below the $20.75 billion analysts had forecast, on average, and marked the 10th consecutive quarter with no year-over-year increase in revenue.

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IBM Corp revenue disappoints as software sales mark rare decline

(Reuters) - IBM Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty. The 109-year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data. Revenue from its cloud-computing business rose 10% to a record $7.5 billion in the fourth quarter, with IBM saying it is confident of returning to sales growth in 2021 and expected revenue to grow in mid-single digits after the separation.

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IBM to buy European cloud startup Nordcloud, sees $1 trn market opportunity

IBM to buy European cloud startup Nordcloud, sees $1 trn market opportunity
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IBM to buy European cloud startup Nordcloud

IBM to buy European cloud startup Nordcloud Toggle share menu Advertisement IBM to buy European cloud startup Nordcloud International Business Machines will acquire European startup Nordcloud, the latest in a series of acquisitions for the 109-year old firm preparing a mega spin-off to focus on cloud computing. FILE PHOTO: The logo for IBM is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid 21 Dec 2020 10:36PM Share this content Bookmark REUTERS: International Business Machines will acquire European startup Nordcloud, the latest in a series of acquisitions for the 109-year old firm preparing a mega spin-off to focus on cloud computing.

Arvind krishnaSubrat patnaikJim whitehurstRed hatInternational business machinesChief executive officer arvind krishnaMunsif vengattilஅரவிந்த் கிருஷ்ணாசுப்ரத் பாதநைக்ஜிம் வைட்ஹர்ஸ்ட்சிவப்பு தொப்பிசர்வதேச வணிக இயந்திரங்கள்தலைமை நிர்வாகி அதிகாரி அரவிந்த் கிருஷ்ணா