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IBM reported favorable earnings for the fourth quarter of 2012 thanks to year-over-year increases to its cloud services, business analytics, and Smart Planet products.
The company reported profits of $5.83 billion ($5.13 per share) for the quarter, which is a 6 percent increase compared to $5.49 billion ($4.62 per share) during the same period a year ago. However, IBM’s revenue dipped less than 1 percent to $29.3 billion compared to $29.49 billion the year before.
The IBM’s biggest success for the year was its cloud business, which saw 80 percent revenue growth compared to 2011.
“We’ve seen continued strong demand for our foundational offerings in hardware and software that help companies build and run their private clouds, as well as for cloud-based solutions like our SaaS offerings,” the company stated, attributing a good portion of the growth in global markets as well as the launch of its PureSystems and SmartCloud Enterprise services.
As for its other areas of growth, IBM saw a 7 percent boost in its international markets revenue compared to the previous year, a 13 percent year-over-year bump in business analytics revenue, and a 25 percent year-over-year revenue increase for its Smarter Planet business. IBM also said it has a very positive outlook for its overall software initiatives, which accounts for half its business in Smart Planet, cloud, and business analytics.
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