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April 21, 2015

IBM cloud gathers pace as profits stay flat

System z mainframe server products business performed well.

By CBR Staff Writer

IBM cloud generated $3.8bn as net income fell 2.4% to $2.32bn. There was an 11.9% decline in revenue to $19.59bn for the first quarter.

Revenues from the Americas decreased 3% to $9.3bn and those from Europe/Middle East/Africa declined 19% to $6.1bn.

The company posted a 18% decline in its Asia-Pacific revenues to $4.1bn.

Revenues from the software segment dropped 8% to $5.2bn and revenues for the systems hardware segment totaled $1.7bn, down 23%.

However, IBM’s System z mainframe server products did well with a 118% hike in revenues. System storage decreased 8%.

IBM chairman, president and CEO Ginni Rometty said: "In the first quarter we had a strong start to the year. Our strategic imperatives growth rate accelerated, demonstrating the power of our offerings in these new opportunities and contributing to improved revenue performance.

"Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion."

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