International Business Machines Corp. IBM concluded its annual investors meeting in New York Thursday. One of the meeting's key highlights was news that the company set a $40 billion revenue target for its cloud, big data and other growth areas, which the company calls ‘strategic imperatives' by 2018.
IBM chairman and CEO Ginni Rometty was on CNBC following the meeting to elaborate on how she plans to achieve that target.Three Years And $40B
When asked how she can be confident that IBM will reach $40 billion in revenues for her "higher growth businesses" in just three years, Rometty replied, “We are just coming off investor day, and one of the key points as I started the day with was about reminding everybody: we are a high value innovation company.” She elaborated, “When we did our earnings [...] we have come out and said the strategic imperatives as we call them all around the world of data cloud engagement [sum] $25 billion.”Last Year And Looking Forward
“We started last year – they were 22 percent, now 27. And in fact, we have got confidence that'll continue to grow double digits. “That leads you to $40 billion, which would be greater than 40 percent of IBM in four years,” Rometty concluded.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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