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Wednesday, 20th April 2011, 15:19:13
Cloud hosting services double for IBM in the first quarter
IBM has announced that its cloud computing sales have doubled this year, despite weakness in other areas because of government cutbacks.
The IT firm revealed that sales for the three months ending March 31st were $24.6 billion (£15.05 billion), an increase of around 7.7 per cent on the $22.9 billion made at the same point last year.
CRN.com reports that the company's chief finance officer Mark Loughridge believes that cloud services sales will double across the remainder of this year while the firm also hopes to make $7 billion from cloud services by 2015.
Mr Loughridge told the news provider that there is plenty of success ahead for the company.
"We had fantastic performance across our growth initiatives," he said.
"We're exiting the first quarter with a lot going for us."
IBM announced earlier this month that it would be introducing new pricing structures to encourage more companies to use its cloud services.
Posted by Judy Gifford
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