IBM has reported that its second quarter revenue fell 15 percent and its net income declined 17 percent for the period. However, the bright spot in the report was its cloud computing performance; cloud revenues rose more than 50 percent year-over-year, or more than 70 percent when accounting for currency fluctuations and IBM's divestiture of System x. In the last year, it's cloud operations have brought in $8.7 billion.
"The market continues to evolve beyond pure infrastructure toward higher-value process-data and analytics-as-a-service engagements, in the same way the Internet has evolved from browsing to a full transactional business platform," said Martin Schroeter, senior vice president and chief financial officer at IBM. "Our clients are finding value in the combination of public, private and hybrid implementations we're able to provide."