IBM: Fiscal 2Q12 Financial Results

IBM Corp. announced second-quarter 2012 financial results for the period ended June 30,2012.
 
From the second quarter of 2011:

• Revenues from System Storage decreased 4%, in spite of XIV and Storwize V7000, its current most successful products;
• Storage hardware revenue was flat at constant currency, with the value continuing to shift to software;
• Revenue from Tivoli software increased 2%, up 6% at constant currency and gained share, driven by storage software growth of 13% at constant currency. Tivoli Storage Management continues to perform well, growing double digits at constant currency for the sixth consecutive quarter;
• Systems and Technology revenue were down 9%, down 7% adjusting for currency;
• Cloud revenue doubled first-half 2011 revenue.

Remember that revenues in 1Q12 from system storage hardware also decreased 4% from the same period one year ago and the value continues to shift to storage software up 18%.

To read the earnings call transcript