IBM's efforts to shift to the cloud comes with profit sacrifice
It posted 11 straight quarters of falling revenue, earnings fell last year for the first time in more than a decade
Washington
FOR IBM, converting to the cloud is taking a toll. Even though it's necessary to drive future growth, the company has to sacrifice profits for now.
Chief executive officer Ginni Rometty is focusing returning International Business Machines Corp to growth through new initiatives such as data analytics, mobile and cloud computing - where technology is delivered via the Internet, instead of stored onsite. Cloud computing gives clients more flexibility in ordering software and can limit their need for IBM's servers and mainframes, crimping profits.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Musk, Indonesian health minister, launch Starlink for health sector
AI revolution means no profession or individual roles will go unchallenged
EU demands clarity from Microsoft on AI risks in Bing
Google focuses on security with next version of Android software
Are floating cities the solution to rising seas?
Apple scores win in labor case involving fired retail workers