IBM beats earnings estimates thanks to the growth of cloud computing

IBM beats earnings estimates thanks to the growth of cloud computing

The company announced (IBM) IBM on Wednesday announced its financial results for the third quarter of 2019, superior to analysts ‘ estimates, thanks to growth in cloud computing business to a high margin.

Revenue rose from the company’s cloud service, which is paid hub (IBM) away from the existing business including: servers, computers, Central, up by 11% to $ 5 billion in the third quarter ending 30 September last.

Total revenue fell by 3.9% to 18.03 million, which came in below the average analyst estimate of $ 18.22 million. Excluding the impact of currency and of business, lost revenues fell by 0.6%.

One giant American technology – which completed the merger of cloud mass with a company (Red Hat) Red Hat Developer System (Linux) Linux earlier this year – to-year revenue decline in the process of shifting the focus from traditional business to the cloud.

Was able to (Jenny Rose) – CEO (IBM) for more than seven years of guiding the company towards cloud computing business rapid growth and reduce its dependence on hardware products own traditional, but it wasn’t easy, as it had a new focus area to a weakening of the desire of investors in some cases.

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With the acquisition deal on (Red Hat) – which is the largest deal conducted by the company so far – the (IBM) is looking to expand the offerings of its existing programs to subscribe to face software sales declining.

Inject the services sector of global technology company (IBM) – which is the largest company – about 6.70 million dollars of revenue, down 5.6% from the previous year. Net income fell to $ 1.67 million, or 1.87 $ per share, of the 2.69 million, or $ 2.94 per share, a year ago.

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