IBM Surpasses $1 Billion In Quarterly Cloud Revenue For First Time

IBM today announced that it exceeded $1 billion in quarterly cloud computing-related revenue for the first time in the company’s history. Of the $1 billion in cloud revenue, “$460 million is delivered as a cloud service” according to Mark Loughridge, IBM’s Senior Vice President and Chief Financial Officer, Finance and Enterprise Transformation. IBM’s cloud-related revenue for 2013 was up 70% in comparison to the same time period last year. A large part of IBM’s growth in the cloud segment of its revenues is presumably attributable to its July acquisition of SoftLayer, an IaaS public cloud solution that additionally features dedicated server and managed hosting solutions. IBM’s Smarter Planet and Analytics solutions delivered similarly impressive results with its Smarter Planet platform reporting earnings up 20% through September and its Analytics solutions up 8% through 2013. Cloud revenue represented a bright spot in an otherwise mixed earnings report for IBM marked by a 4% decline in overall Q3 revenue to $23.7 billion.

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