IBM says buying Red Hat is paying off, but its revenue falls again - Business Insider

📆 17/10/2019 03:13:00
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'Patience is wearing thin' as IBM reports yet another quarter of falling revenues, but its $34 billion Red Hat buy is a bright spot

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That's a good sign, one analyst told Business Insider. But another analyst said "patience is wearing thin" as IBM revenue continues to slide.IBM's stock fell sharply late Wednesday after the company reported another drop in quarterly revenue. IBM is taking aim at the hybrid cloud, in which businesses maintain networks on cloud platforms, while keeping huge chunks of their data and applications on private data centers. IBM sees that market growing to become a $1 trillion opportunity, one that it says it will dominate."Sales were up at Red Hat, even with whatever uncertainties were hanging over the company during the closing period," he told Business Insider. "That can only be a good sign.

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