IBM says India brought good revenue despite COVID-19 

IBM declared the second quarter of 2020 results in which IBM’s total revenue is about $18 billion, which is a 5% drop compared to the previous quarter.

As per IBM CEO Arvind Krishna, few countries, including Brazil, France, Spain, and India that were hard hit by COVID-19, performed well from a revenue perspective.

Especially India stood out in terms of revenue growth for IBM in the second quarter.

IBM revenue fell 4% in the Asia Pacific; however, India was the only country to perform better in Asia.

How did IBM revenue increase in India despite COVID-19?

  • IBM Cloud & Cognitive Software business brought significant revenue in India
  • Major Telecom companies such as Bharti Airtel chose IBM to implement and enhance cloud capabilities to support the business.
  • American Express India also chose IBM for its cloud-based services.
  • IBM is working with Top Indian IT Companies like Infosys, Wipro, and TCS to implement IBM’s hybrid cloud platform.

Key Highlights of IBM Q2 2020 results:

  • Revenue of $18.1 billion, down 5.4 percent 
          • Cloud & Cognitive Software revenue up 3 percent 
          • Systems revenue up 6 percent
  • Total cloud revenue of $6.3 billion, up 30 percent 
          •  Total cloud revenue of $23.5 billion over the last 12 months, up 20 percent 
          • Red Hat revenue up 17 percent
  • Global Business Services revenue is $3.9 billion, down 7 percent [This business includes Consulting, Application Management, and Global Process Services]
  • Global Technology Services revenue is $6.3 billion, down 8 percent [This business includes Infrastructure & Cloud Services and Technology Support Services]
  • Systems revenue is $1.9 billion, up 6 percent[This business includes Systems Hardware and Operating Systems Software]
  • Global Financing revenue is $265 million, down 25 percent [This business includes financing and used equipment sales]

International Business Machines Corporation ‘IBM‘ is an American multinational company headquartered in Armonk, New York. The company began in 1911 and was renamed “International Business Machines” in 1924.

IBM has over 350K employees globally, and IBM India’s headcount is ~140K employees.

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