IBM reported Q3 revenue from continuing operations of $19.2 billion with diluted EPS (GAAP) of $2.98. Strategic imperatives revenue amounted to $8.0 billion in the quarter, up 16 percent year to year.
“IBM’s third-quarter performance, led by continued double-digit growth in our strategic imperatives, is a testament to our leadership in cognitive solutions and cloud,” said Ginni Rometty, IBM chairman, president and chief executive officer. “Our ability to apply deep expertise and breakthrough technology, led by Watson and the IBM Cloud, to massive amounts of data is enabling us to build new markets and transform industries.
Some highlights:
- Cloud revenues (public, private and hybrid) for the quarter increased 44 percent (up 42 percent adjusting for currency).
- Cloud revenue over the trailing 12 months was $12.7 billion.
- The annual run rate for cloud as-a-Service revenue — a subset of total cloud revenue — increased to $7.5 billion from $4.5 billion in the third quarter of 2015.
- Revenues from analytics increased 15 percent (up 14 percent adjusting for currency).
- Revenues from mobile increased 19 percent and revenues from security increased 11 percent.