International Business Machines Corp posted quarterly revenue slightly lower than Wall Street expected, but beat profit targets as sales in its high-margin cloud computing business rose 19%. The company for several years has been focused on becoming a major player in the cloud services industry, acquiring Linux maker Red Hat and selling some legacy businesses. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 19% to $5.4 billion in the first quarter. …read more
Source:: Yahoo Finance
