FILE PHOTO: The logo for IBM is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo
Revenue from its cloud-computing business rose 10% to a record $7.5 billion in the fourth quarter, with IBM saying it is confident of returning to sales growth in 2021 and expected revenue to grow in mid-single digits after the separation. “Our performance reflects the fact that our clients continue to deal with the effects of the pandemic and broader uncertainty of the macro environment,” said Chief Executive Officer Arvind Krishna, who took helm last April.
Sales from cloud and cognitive, which houses IBM’s software offerings and its biggest unit, declined 4.5% to $6.8 billion after two years of growth.
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