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IBM reported $2.35 per share, cloud revenue up 34%

Staff writer |
IBM reported earnings per share of $2.35 on $18.68 billion in revenue. Cloud revenue increased 34 percent.

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IBM reported that its quarterly revenue from its strategic businesses like like cloud and analytics increased 14 percent year over year and now represent 37 percent of the company's revenue. Cloud revenue increased 34 percent and totaled $10.8 billion for the last 12 months.

"We are pleased with the progress we have made helping our clients apply new cognitive solutions and hybrid cloud platforms," Ginni Rometty, chairman and CEO of IBM, said.

IBM maintained its full-year guidance of at least $13.50 per share.

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