IBM sees 6.5% growth in Q4 driven by hybrid cloud revenue

IBM

IBM has posted its highest quarterly growth since 2011 for the final quarter of 2021, with hybrid cloud adoption driving sales.

The positive turnaround for the company suggests that Arvind Krishna’s appointment as CEO in mid-2020 is starting to bear fruit.

For the December quarter, IBM brought in revenue of £12.4 billion, up 6.5% from 2020’s results. Its best results in ten years, it also surpassed Wall Street forecasts of £12 billion.

IBM shares are up...

25 January 2022 | Companies

SAP sees 28% jump in quarter four cloud revenue

Revenue and Earnings

SAP, the multinational business software group, recorded a 28% revenue increase for its cloud computing operations in 2021’s fourth quarter.

Cloud revenue reached €2.6 billion (£2.17bn) in this period, the company revealed in its preliminary financial results.

SAP believes its main cloud offering, RISE with SAP, has been a large contributor to growth. Unveiled in January 2021, RISE is a subscription-based “intelligent enterprise” as a service package for...

18 January 2022 | Cloud Migration