(Bloomberg) — International Business Machines Corp. beat analysts’ estimates for revenue in the second quarter, with cloud sales helping offset coronavirus-fueled declines in its consulting services business. The shares gained in late trading.The Armonk, New York-based company reported total cloud revenue increased 30% to $6.3 billion in the second quarter. That helped offset revenue declines in the tech support units Global Business Services and Global Technology Services, which account for about 56% of IBM’s total revenue. Overall, sales fell 5.4% to $18.1 billion, beating the $17.62 billion analysts had expected, according to data compiled by Bloomberg.Covid-19 has hit IBM’s services …read more
Source:: Yahoo Finance
