IBM expects the impact from Russia to be less than "half a percent" of total revenue last year, or a little over $200 million, Chief Financial Officer James Kavanaugh told Reuters.
…The century-old company said it expects to hit the higher end of its mid-single-digit revenue growth forecast for this year, after it trounced first-quarter estimates for revenue, energized by its focus on cloud services amid higher global spending on technology.
…IBM's cloud revenue grew 14% to $5 billion during the quarter ended March 31. Revenue from software and consulting segments, which make up over 70% of IBM's business, rose 12% and 13%, respectively. Total revenue rose 8% to $14.20 billion during the quarter, beating estimates of $13.85 billion.
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