Tech company IBM saw a slight decrease in its turnover in the third quarter. But that was better than what analysts had expected. IBM’s cloud activities grew significantly, while the service branch and hardware branch were shrinking. IBM plans to focus on the cloud services in particular, with the other parts being put on their own feet.
The revenue was down by 2.6% to 17.6 billion dollars. Indeed, the cloud division saw a 19% increase in turnover, with many more companies and institutions using cloud services as a result of working at home.
Below the line, IBM left $ 1.7 billion. That was 2% more than a year earlier.