This
week IBM announced earnings
results for 2020Q2 and the company reported Systems revenues of $1.9
billion, up 6 percent, led by IBM Z, which was up 69 percent… the mainframe is a shining jewel in IBM’s earnings.
Note
that the Systems category comprises IBM systems hardware and operating system
software, including mainframe, Power systems, storage, etc.
Other
bright spots for IBM include total cloud revenue of $6.3 billion, up 30 percent
and Red Hat revenue up 17 percent.
After reporting the earnings, IBM shares rose by as much
as 6 percent in extended trading on Monday due to the overall better-than-expected
results.
Overall,
earnings
were $2.18
per share, adjusted, vs. $2.07 per share as expected by analysts.
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