IBM saw growth in just about all of its business sectors, including mainframe and midrange-class sales in the first quarter of 2018. Overall systems revenues—including systems hardware and operating systems software—were $1.5 billion, up 8%, driven by growth in IBM Z and Power, the company reported.
Overall, revenue for the quarter was $19.1 billion for the company. "In the first quarter we maintained momentum in our business, with reported revenue growth in total and across our major segments," said Ginni Rometty, IBM chairman, president and CEO. "These results reinforce that our clients value our innovative technologies, our industry expertise, and our commitment and actions for the responsible stewardship of their privacy and data. This is also reflected in our leadership positions in enterprise cloud, AI, and security."
Over the past year, IBM has seen significant growth in its next-generation technology initiatives, including cloud, data analytics and cognitive solutions. Strategic imperatives revenue over the last 12 months was $37.7 billion, up 12%, the company reported. Total cloud revenue over the last 12 months was $17.7 billion, up 22%. The annual exit run rate for as-a-service revenue increased to $10.7 billion, up 25%.
In the first quarter of 2018, revenues from analytics increased nine percent; revenues from mobile increased 19%; and revenues from security increased 65%. Cognitive solutions—including solutions software and transaction processing software—brought in revenues of $4.3 billion, up six percent, driven by solutions software, including security, analytics, and industry platforms; and transaction processing software.
Global Business Services—including consulting, global process services and application management—saw revenues of $4.2 billion, up 4%. Strategic imperatives revenue grew 12%, led by the cloud consulting practice, with double-digit growth in analytics and mobile.
Technology Services & Cloud Platforms—including infrastructure services, technical support services and integration software revenue were $8.6 billion, up 5%. Strategic imperatives revenue grew 24%, driven by hybrid cloud services, security, and mobile.
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