IBM posts 2-digit cloud revenue growth; says customers deferring projects

Topics IBM | Cloud computing

(Reuters) - International Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud services, a business it is staking its future on as it prepares to spin off one of its legacy units.

IBM shares, however, fell 3% after the company stayed away from issuing a forecast for the current quarter, citing uncertainty around a global economic recovery due to the COVID-19 pandemic. "Clients' near-term priorities continue to include operational stability, flexibility.....

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