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John Miller, Softletter100

John Miller, Softletter100

Rick Chapman

Rick Chapman

Softletter100

IBM experiences a year of decline

IBM were confident that the benefits of their recent strategical changes would come to light by the end of 2020, however the latest financial report from the firm exposed a decline in revenues between Q3 and Q4 – making it the fourth consecutive quarter where this was the case.

Despite the downtick in revenues, IBM’s cloud businesses’ revenue grew by 10% between Q3 and Q4, bringing in $7.5bn dollars over the quarter. In addition, revenue from Red Hat increased by 19% over the same period while IBM’s debt was reduced by $3.9 billion.

Overall however, IBM are an outlier when it comes to cloud firms performance in 2020, with Microsoft, Google and Amazon all posting strong results following the increased demand in cloud computing services.

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