The Armonk, New York-based technology services giant, which wrapped up the mega cloud merger with Linux maker Red Hat Inc earlier this year, has faced years of revenue declines in the process of shifting focus to the cloud from its traditional business. Total revenue fell 3.9% to $18.03 billion, missing analysts’ average estimate of $18.22 billion, according to IBES data from Refinitiv. Revenue from the company’s cloud services, which are driving IBM’s pivot away from established businesses including mainframe servers, rose 11% to $5 billion in the third quarter ended Sept. 30. …read more
Source:: Yahoo Finance
