IBM hits highest growth in a decade with mid-digit push

from ERP Today North America March 2023

SIGNING OFF THE MIDMARKET MOMENT

IBM has announced its financial results for 2022, with success across business segments producing the highest revenue growth in a decade for the firm. A six percent rise has seen revenues of $60.5bn for the full year and $16.7bn for Q4.

Hybrid cloud revenues reached $22.4 billion for 2022, up 11 percent year-on-year.

The firm’s Q4 software revenues rose 2.8 percent to $7.3bn and its hybrid cloud and solutions grew by five percent.

Of IBM’s software segment for Q4, Red Hat grew ten percent and automation, data and AI, and security all rose by four percent. Only transaction processing fell, shrinking by three percent.

Consulting revenues saw modest Q4 growth of 0.5 percent, bringing in $4.8bn for the quarter.

Infrastructure saw Q4 revenues of $4.5bn, growing 1.6 percent, and led by a 16 percent rise for IBM zSystems. Hybrid infrastructure also brought six percent growth.

Cash flow for the year was $9.3bn, sitting below its target of $10bn due to higher-than-expected working capital needs. Net cash from operating activities was $10.4bn.

Strategic partners bookings also grew over 50 percent for the year, with SAP, Microsoft and AWS all bringing in over a billion dollars in revenue.

2022 saw eight acquisitions across IBM’s software and consulting divisions.

Looking ahead, the company expects the constant currency revenue growth to stay consistent with its mid-single digit model for 2023, projecting $10.5bn in consolidated free cash flow, which would result in growth of more than $1bn year-on-year.

Oracle Payment Cloud Gives Retailers Greater Pricing Flexibility

Oracle has extended its retail cloud platform to include the Oracle Retail Payments Cloud Service.

With the solution, US retailers can now accept current contactless payment options, including debit/ credit cards and Apple, Google, and Samsung Pay, without the hidden fees and unpredictable costs that erode the bottom line.

The ser vice has fixed-fee rate pricing with no long-term contract lock-in or monthly minimum requirements and integrates with Oracle Retail Xstore Point-of-Service and Oracle MICROS hardware.

Azure Openai Service Expands Access To Ai Models For Enterprise

Microsoft has announced the general availability of Azure OpenAI Service in a commitment to its ongoing partnership with OpenAI and to further democratize AI.

The announcement will give more businesses access to the most advanced AI models in the world, including GPT-3.5, Codex, and DALL•E 2, backed by the trusted enterprise-grade capabilities and AI-optimized infrastructure of Microsoft Azure.

Access to ChatGPT, a fine-tuned version of GPT-3.5, through Azure OpenAI Service will also come soon.

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