VMware and IBM both announced quarterly earnings on Oct. 17. Wall Street was a bit disappointed with IBM’s growth projections, while investors are still digesting VMware’s longer-term outlook. But take a closer look, and you’ll find IBM and VMware both talking about growing cloud computing demand.

Let’s start with the official numbers.

For cloud services providers, the more important news involves cloud-centric revenues from IBM and VMware. In both cases, the news sounded good.

Noted VMware CEO Paul Maritz in a prepared statement: “I’m pleased with another solid quarter for VMware illustrated by progress with new products, growth across our portfolio and a growing community.  We are becoming a significant partner to businesses moving to the cloud.

Highlights for the quarter, according to VMware, include the launch of the VMware Cloud Foundry PaaS offering and the unveiling of the VMware vSphere 5 cloud infrastructure solution product line. In other words, VMware is seriously building out its cloud business, with no intention of stopping any time soon.

Meanwhile, IBM said its cloud revenue (Q1 through Q3 2011) has doubled vs. full-year cloud revenue for 2010. IBM didn’t say which specific products and services fit in the cloud revenue bucket. But the 100 percent growth — in three quarters of 2011 vs. four quarters of 2010 — certainly sounds impressive.

Talkin’ Cloud will continue to analyze cloud-related revenues when we update the Talkin’ Cloud Stocks Index after U.S. markets close on Friday, October 21.

Additional insights from Joe Panettieri.