Friday, 24 March, 2023
IBM struggles with transformation as cloud, AI revenue down 4.5%
<p>IBM’s earnings showed that its cloud and cognitive software revenues were down by 4.5% to $6.8 bn. Revenue from cognitive applications — where AI incomes are mentioned — were flat. However, Red Hat performed well, with a rise of 18% in revenue YoY. But overall IBM's revenue declined for the fourth straight quarter. Experts, however, said it’s too easy to say that IBM's transformation strategy has failed, the results aren’t there yet.</p> <p> </p>
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