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1q21’s revenue reached US $17.7 billion, growing for the first time since 2018, thanks to the help of cloud business From IBM

The following is the 1q21’s revenue reached US $17.7 billion, growing for the first time since 2018, thanks to the help of cloud business From IBM recommended by recordtrend.com. And this article belongs to the classification: It service industry, cloud computing, artificial intelligence, Enterprise financial report.

On April 20, 2021, IBM’s revenue grew for the first time in 11 quarters driven by the demand for cloud services, indicating that Arvind Krishna’s revitalization plan is beginning to bear fruit.

First quarter revenue rose 1% to $17.7 billion, according to the company’s announcement on Monday. The average analyst forecast compiled by the company is $17.3 billion. IBM shares rose after hours.

Three of the five business units recorded revenue growth, with cloud and cognitive software, the largest, up 3.8% year-on-year, IBM said. The revenue of global business services and systems, where the hardware and operating system software businesses are located, increased by 2.4% and 4.3% respectively.

For a year at the helm, Krishna has focused on artificial intelligence and cloud services to break years of stagnant growth. He reformed the 109 year old technology giant around the hybrid cloud strategy, allowing customers to store data on private servers and multiple public clouds, including those of competitors Amazon and Microsoft.

In the first quarter, the total revenue of cloud services increased by 21% to $6.5 billion.

Krishna said that “more and more customers are using our hybrid cloud platform”, together with the growth of software and consulting business, has helped the company “get off to a good start this year”.

IBM also announced that red hat’s revenue grew 17% in the first quarter. The company acquired red hat for $34 billion in 2019. After deducting some costs, earnings per share was $1.77, exceeding analysts’ average expectation of $1.65. Gross margin was 47.3%, analysts expected 47.2%.

IBM said it expected to report full year revenue growth.

IBM: 1q20 net profit was $1.176 billion, down 26% year on year IBM: 4q20 revenue was $20.367 billion, down 6% year on year UFIDA: cloud service revenue increased 132% year on year in 2019 IBM: 3q20 revenue decreased 2.6% red hat and hybrid cloud business shine IBM: 2q20 revenue decreased 5.4% year on year to $18.1 billion NVIDIA: 4q20 revenue was $5 billion, net profit increased 53% year on year Baidu: 2q20 financial report teleconference record Baidu: zero tolerance of fraud Lenovo: 1q20 net profit 213 million US dollars, a year-on-year increase of 31% NVIDIA: 3q20 revenue 4.726 billion US dollars, a year-on-year increase of 57% IBM: salesforce status report Microsoft: 3q20 financial report teleconference record to “cloud” will be an inevitable trend in the future Baidu: 1q20 revenue 22.5 billion yuan, exceeding market expectation a lphabet:1Q20 one Quarterly revenue of 41.159 billion US dollars, up 13% year on year

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