IBM reported fourth-quarter revenue of $22.5 billion, up 4%. Systems (includes systems hardware and operating systems software)—saw revenue of $3.3 billion, up 32% over the same quarter last year, driven by growth in IBM z, Power Systems, and storage.
Additional bright spots were cloud revenues, which increased 30% to $5.5 billion. Cloud revenue over the last 12 months was $17 billion, including $9.3 billion delivered as-a-service and $7.8 billion for hardware, software, and services to enable IBM clients to implement comprehensive cloud solutions. The annual exit run rate for as-a-service revenue increased to $10.3 billion from $8.6 billion in the fourth quarter of 2016. In the quarter, revenue from analytics increased 9%, while revenue from mobile increased 23% and revenue from security increased 132%.
"Our strategic imperatives revenue again grew at a double-digit rate and now represents 46% of our total revenue, and we are pleased with our overall revenue growth in the quarter," said Ginni Rometty, IBM chairman, president, and CEO. "During 2017, we strengthened our position as the leading enterprise cloud provider and established IBM as the blockchain leader for business. Looking ahead, we are uniquely positioned to help clients use data and AI to build smarter businesses."
For more details, go to www.ibm.com.