by Jordan Novet, GigaOM
Despite gains in cloud computing revenue, IBM did not meet Wall Street’s expectations of the legacy technology vendor. Flash storage could help bring more revenue later this year. IBM reported $23.4 billion in revenue in the first quarter of the year, down more than 5 percent year over year, and $3.03 billion in net income, down 1.1 percent. Analysts had been expecting more than $24 billion in revenue. The company said cloud-computing revenue was up more than 70 percent year over year in the first quarter of 2013, following an 80 percent revenue gain in the previous quarter.
Share on Facebook