About: http://data.cimple.eu/news-article/c83093e9917bad3843cd5c9bafce8bf7670baccb1ca66dc28b6a3410

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About: http://data.cimple.eu/news-article/c83093e9917bad3843cd5c9bafce8bf7670baccb1ca66dc28b6a3410 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	IBM reported Monday that revenue slipped for the third consecutive quarter this year, causing shares to cede a little ground in after-market trades. The US technology veteran said it took in $17.6 billion during the three months that ended on Sept. 30, compared to $18 billion in the same period a year earlier. Net income, however, was up slightly to $1.7 billion as the company trimmed costs, according to the earnings report. IBM shares were down 2.6 percent in after-market trades. The New York-based company spotlighted growth in its cloud computing business, which saw overall revenue climb some 19 percent to $6 billion. "The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform," said IBM chief executive Arvind Krishna. IBM last year closed its $34 billion-deal to buy enterprise software company Red Hat. The group recently unveiled a corporate reorganization to allow it to focus on cloud computing, spinning off its division for managed infrastructure. By separating its managed infrastructure services business, IBM is sharpening focus on its offerings in a "hybrid cloud" market valued at a trillion dollars, according to Krishna. Hybrid cloud offerings combine data center capabilities tapped into online with private computer systems at businesses. The spin-off will create two separate, publicly traded firms by the end of 2021, according to IBM. The move positions IBM to ramp up competition in cloud computing against rivals such as Amazon, Microsoft and Google. gc/to
schema:headline	IBM revenue slips for third straight quarter
schema:mentions	Computer network IBM Cloud computing Data center Prime Video Microsoft Krishna district Arvind Krishna Red Hat Public company Enterprise software Corporate spin-off Google Cloud Platform Net income The Move
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	68 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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