Best Revenue Growth for IBM After Ten Years
When the market stood at a standstill or worse, dropped entirely during the recession, we are seeking big changes now as everyone’s picking themselves up from economic downturn and these changes are all for the better. Of all the businesses doing their best to rise up, the International Business Machines Corporation (IBM) has made the biggest leap.Yesterday , they reported their strongest quarterly revenue growth. After almost ten years of floundering, we have an indication that the recession really has ended.
Essentially, IBM’s success with revenue growth demonstrates that companies are willing, once again, to spend on technology. Aside from this, the hard work that the people at IBM put with making their products better lent a hand. You see, when this decade started off, IBM resolved to transform themselves into a business that provides for the best products in fields that are less crowded and where there’s less competition on price. They put their efforts for a higher margin, more complex businesses and going further away from crowded fields.
With regard to the numbers, the Armonk, NY, company made a lot of investments in emerging countries. They also put a lot of work into growth areas like business analytics. Because of this, total revenue in growth markets like Russia, China, India and Brazil, grew to 15%. On the side of business analytics, this increased 19% since they added the use of software for mining huge volumes of data. This helps company executives make better decisions. Mark Loughridge, the chief financial officer of IBM said that they see a lot of customers spending more for their base businesses with the ending of the recession.
With the demand for IBM products in the various growth markets, the company can now help their clients build their IT infrastructures, a task they’ve put on hold when the economy took a turn for the worst. The figures with regard to IBM’s fourth quarter revenue are up to $29.02 billion. That’s 6.6% higher and it’s the highest IBM has ever made with their quarterly percentage gain since 2011. Further, the company has just signed service contracts signaling further growth.
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