“It’s not just about hyperscalers any more, it’s about startups and industry.”

The company said an accounting error boosted revenue for one of its services. It will restate years of earnings.

The forecast shows that its main business of selling expensive networking hardware is still struggling amid tepid spending by corporations and government agencies.

“We have always thought of B2B as the sexy market."

On the cloud side, business has more than doubled since 2017, to $8.9 billion from $4.1 billion.

Its quarterly sales beat analysts’ projections by more than $1 billion, fueled by corporate customers seeking to shift computing tasks to cloud-based systems.

Europe's biggest tech company reports 25% cloud revenue growth for 2019 but lowers cloud revenue guidance for 2020.

Revenue from cloud providers surged 48 percent in the fourth quarter, demonstrating after a period of slow growth the cloud hardware business's lumpy nature.

DCK Investor Edge: The exec lays out the role Colony 2.0 will play in 5G and edge computing.

Thanks to its acquisition of Red Hat, IBM's fourth-quarter cloud revenue was its highest ever.