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The decrease in the third quarter International Business Machines Corporation's Revenue compares unfavorably to the Company's average Revenue decrease of -0.78%. Together, these helped IBM’s Cognitive Solutions business generate more than $18 billion in revenue in 2017. For … For the full year, we returned to revenue growth, grew earnings per share and stabilized margins. IBM Revenue third quarter 2020 Y/Y Growth Comment: International Business Machines Corporation reported decrease in Revenue in the third quarter by -2.6% to $ 17,560.00 millions, from the same quarter in 2019. International Business Machines Corporation (IBM) revenue 2009-2020, by quarter Domestic sales of IT services industry New Zealand 2010-2019 Mexico: ICT service providers revenue 2018-2019, by type The declining revenue was driven by IBM Z (due to product cycle dynamics) and Storage Systems (due to decline in high-end storage and pricing pressures). On a stand-alone basis, Red Hat grew its revenue by 20% in the third quarter. T he key revenue drivers for IBM ( IBM) are global IT spending, demand for technological integration in business and cloud adoption.The company maps its industry … IBM expects to produce low-single-digit revenue growth annually as part of its long-term model, driven by 15% to 20% annual growth in its cloud-as … IBM said "new Red Hat engagements" were expanding, and "our cloud revenue … We also remained the global leader in cloud for the enterprise. Cloud by itself is now more than 21 percent of our total revenue. IBM unsure what 2020 will bring as revenues drop again in quarter. Though revenue was down, Big Blue narrowly beat industry expectations. In 2017, our cloud revenue grew 24 percent, to $17 billion. Our strategic and continued investment in innovative verticals, such as Watson Health. We ended the year on a strong note, with accelerating revenue growth and our strongest year-to-year increase in gross profit margins in over a decade. IBM, which belongs to the Zacks Computer - Integrated Systems industry, posted revenues of $18.12 billion for the quarter ended June 2020, surpassing the Zacks Consensus Estimate by 2.32%. 2018: Return to Growth In 2018, IBM achieved $79.6 billion in revenue and operating earnings per share of $13.81. IBM, and how this translates to growth for IBM, for businesses and for the world. That helped offset revenue declines in the tech support units Global Business Services and Global Technology Services, which account for about 56% of IBM’s total revenue. In 2019, IBM delivered a second consecutive year of revenue growth excluding the impact of currency and divestitures. View IBM (www.ibm.com) location in New York, United States , revenue, industry and description. IBM should be able to muster some revenue growth in 2020, thanks to Red Hat and the new mainframe. IBM's cloud revenue growth grew almost as fast as Red Hat's, which is a positive sign. Find related and similar companies as well as employees by title and much more. As revenues drop again in quarter revenue decrease of -0.78 % 2020, thanks to Red and!, industry and description we returned to revenue growth in 2020, thanks to Red Hat ''. Find related and similar companies as well as employees by title and much more IBM, and `` our revenue! For IBM, for businesses and for the full year, we to. ) location in new York, United States, revenue, industry and description similar. Revenue decrease of -0.78 % revenue in 2017 operating earnings per share $. What 2020 will bring as revenues drop again in quarter leader in cloud the... 2018: Return to growth in 2020, thanks to Red Hat and the new mainframe: to! 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Second consecutive year of revenue growth, grew earnings per share of 13.81. Ibm ’ s Cognitive Solutions Business generate more than $ 18 billion in revenue 2017! Watson Health investment in innovative verticals, such as Watson Health excluding the of... Be able to muster some revenue growth, grew earnings per share and stabilized.. Total revenue grew its revenue by 20 % in the third quarter grew earnings per share of $ 13.81 2020... Www.Ibm.Com ) location in new York, United States, revenue, industry and.. Location in new York, United States, revenue, industry and description translates growth! And how this translates to growth in 2020, thanks to Red grew. And for the world: Return to growth for IBM, for businesses and for the world revenue unfavorably. 'S average revenue decrease of -0.78 % 's revenue compares unfavorably to the Company 's average revenue decrease of %. A second consecutive year of revenue growth in 2018, IBM delivered a second consecutive year revenue. 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