Here are four things to know about the company’s Q1 performance.
1. IBM reported $18.2 billion in total revenue, representing a 3 percent year-over-year decrease. The company’s net operating income was 2.3 billion, down 1 percent year-over-year.
2. The company highlighted earnings from its “strategic imperatives,” which IBM previously said encompass newer initiatives like analytics, artificial intelligence and cloud computing. These projects represented $7.8 billion of the company’s total revenue in Q1, with a 12 percent year-over-year increase.
3. In Q1, IBM reported $3.5 billion in cloud revenue, representing a year-over-year increase of 33 percent.
4. IBM expects its full-year 2017 free cash flow to be relatively flat year to year. The company is also planning to expand offerings under its strategic imperatives category.
“We are developing and bringing to market emerging technologies such as blockchain and quantum, revolutionizing how enterprises will tackle complex business problems in the years ahead,” said Ginni Rometty, chairman, president and CEO of IBM.
Click here to view the Q1 results.
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