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IBM’s quarterly growth rebound comes to an end – yet cloud revenues continue to tick over

October 17, 2018 / James Bourne

So much for that run of quarterly growth: IBM’s latest financials show a 2% decline in revenues, yet cloud revenues continue to perform solidly. Overall revenue was at $18.8 billion (£14.3bn) for the quarter, with cloud revenues at $19bn across the past 12 months. This is ticking over compared with the previous quarter’s figure of $18.5bn. The company’s message, as this publication reported earlier this week, was focused around helping customers in the ‘emerging, high value’ segments of the IT industry – of which cloud is an integral part knitting it together. “Our performance this quarter was driven by the offerings in hybrid cloud, in security, in digital, and in analytics and AI – a testament to our ability to deliver differentiated value to our clients through innovative technologies with the skills and expertise to implement these technologies,” said Jim Kavanaugh, IBM chief financial officer in an earnings call. “W...