IBM released its third-quarter 2016 earnings results on Monday. Overall, IBM reported cloud revenue of $12.7 billion over the last 12 months.
"IBM's third-quarter performance, led by continued double-digit growth in our strategic imperatives, is a testament to our leadership in cognitive solutions and cloud," Ginni Rometty, IBM chairman, president and chief executive officer said in a statement. "Our ability to apply deep expertise and breakthrough technology, led by Watson and the IBM Cloud, to massive amounts of data is enabling us to build new markets and transform industries. Whether it is banks implementing IBM blockchain solutions, hospitals leveraging Watson to fight cancer, or retailers using cognitive apps built on the IBM Cloud to transform the customer experience, clients across all industries are tapping into a new kind of innovation value from IBM."
Here are five other cloud-related highlights from the report, which you can view in its entirety here.
- Third-quarter revenues from IBM’s strategic imperatives --- cloud, analytics, mobility and security --- increased 16 percent year to year
- Cloud revenues (public, private and hybrid) for the quarter increased 44 percent
- The annual run rate for cloud as-a-Service revenue --- a subset of total cloud revenue --- increased to $7.5 billion from $4.5 billion in the third quarter of 2015
- Technology Services & Cloud Platforms (includes infrastructure services, technical support services, integration software) saw revenues of $8.7 billion, up 2.4 percent
- Growth of 45 percent in strategic imperatives revenue within its Technology Services & Cloud Platforms segment driven by strong hybrid cloud services performance