IBM’s New Businesses Boosted Up the Q2 Revenue & Profit of The Company
IBM (International Business Machines Corp.) recorded a considerable uplift in the revenue and profit for the second quarter marked by a valuable benefit resulting from the growth in higher-margin businesses including cybersecurity and cloud computing.
Revenue from these businesses increased by 15% to $10.1 billion in the second quarter, including more than half of the company's total revenue. The overall revenue rose 3.7% from the previous year to $20 billion, beating analysts' average estimate of $19.85 billion.
"We've done the work to reposition our company," James Kavanaugh, finance chief said about the focus on the strategic imperatives markets. "We are seeing our investments in these high-value segments of the IT industry now paying off."
IBM has been focusing on a range of new t...