IBM boosts its profits thanks to the blockchain
The technology giant exceeded expectations during the second quarter of the year with an increase in the volume of its business
In its quarterly report, the technology company IBM showed a high growth in the volume of business due to the commitment they have made to blockchain technology.
According to the document, the company exceeded its expectations in the second quarter of this 2018. Ginni Rometty, CEO of the company, was in charge at the time to move the focus to all related to new technologies, which includes the blockchain and artificial intelligence.
In the second quarter, these “strategic imperatives” increased their profit up to 15%, reaching 10 billion dollars, which would be more than 50% of the total profit of IBM.
The figures therefore ensure that IBM’s earnings grew for the third consecutive quarter, good news for the company that remained in the red for six straight years.
David Holt, CFRA research analyst, explained that one of the fundamental factors in the growth of technology was in being “gradual, and when that happens, you can see margins for expansion.”
K. Tovar
Source: Newsroom
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