IBM beat estimates for second quarter profit on Monday and signalled that demand in its cloud computing business would get a boost as large corporations accelerate their digital shift due to the coronavirus crisis.
Browsing: Ginni Rometty
In July 2017, IBM executive Arvind Krishna walked into a routine meeting with senior leaders and delivered a surprise pitch that changed the course of the iconic 108-year-old company’s future.
IBM has named Arvind Krishna as chief executive officer, replacing longtime CEO Ginni Rometty. She will be remembered for two main things: shrinking sales and initiating IBM’s third major transformation.
IBM reported third quarter revenue that missed Wall Street estimates, with the long-awaited revenue infusion from Red Hat failing to compensate for continued declines in other parts of its business.
In IBM’s vision of cloud computing, Amazon.com and Microsoft will be allies rather than rivals.
IBM gave a positive forecast for 2019 and beat analysts’ estimates for quarterly sales and earnings, led by its business that helps companies and governments manage their technology.
IBM just made the cloud computing war far more interesting. It’s not an easy sell, but IBM and Red Hat certainly make a more compelling cloud computing alternative.