currency) year-to-date. Revenues from mobile more than quadrupled, and social revenues increased more than 30% (more than 40% adjusting for currency), both yearto-date.”
In point of fact, the cloud computing and business analytics fields are among the most crowded of the efforts of the world’s largest tech companies. In what is called the “cloud infrastructure services” sector, IBM will need to claw its way ahead of leaders Amazon.com Inc. (NASDAQ: AMZN) and Microsoft Corp. (NASDAQ: MSFT) and fight against other companies such as Oracle Corp. (NYSE: ORCL) and Google Inc. (NASDAQ: GOOGL) for a barely modest piece of what is left.
Rometty’s comments try to support her case that IBM’s cloud efforts can grow quickly enough to offset the rapid fall in sales from its traditional businesses. As it turns out, the results show her efforts are not anywhere close.