IBM saw from the get-go that the cloud was going to cause a major disruption to its business.
“We knew it was a massive opportunity for IBM, but not in a way that necessarily fit our mold,” said Jim Comfort, who is now CTO for IBM Cloud. “Every dimension of our business model would change — we knew that going in.”
Change they have, and there’s little denying that the cloud businesses is now a ray of sunshine brightening IBM’s outlook as its legacy businesses struggle. In its second-quarter earnings report last week, cloud revenue was up 30 percent for the quarter year over year, reaching $ 11.6 billion. Revenue from systems hardware and operating systems software, on the other hand, was down more than 23 percent.
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