IBM turnover picks up thanks to cloud silver lining
Published by
AFP

San Francisco (AFP) – US computer giant IBM soothed market jitters Monday with better-than-expected results and a slight uptick in turnover after four quarters down.  Its stock rose 3.14 percent during electronic trading after the close of the New York Stock Exchange.  IBM raked in $17.7 billion in revenue in the first quarter of 2021, up 0.9 percent from last year at the same time.  Its net profit, on the other hand, fell from $1.18 billion to $955 million.  Cloud computing, which has become the lifeblood of the company, posted revenue of $5.4 billion, slightly up. This sector is notably driv…

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