IBM has posted yet another decline in revenues, reporting fourth-quarter results for 2014 of $24.1bn, a 12 percent decrease on the same period last year.
Overall, IBM reported revenues of $92.8bn in 2014, a decrease of six percent on 2013. This was despite notable increases in emerging areas of the business around which IBM is attempting to position itself.
In particular, IBM revealed that cloud revenues rose 60 percent in 2014 to $7bn, while business analytics revenue was up seven percent to $17bn.
Mobile revenue tripled and security revenue rose 19 percent, IBM said, although the firm did not give any specific figures for this growth.
However, it appears that IBM’s traditional financial powerhouses of hardware, software and support are letting the company down.
Hardware revenue was down 39 percent to $2.4bn in the fourth quarter, and software was down seven percent to $7.6bn. Services were down eight percent to $13.5bn.
Chief executive Ginni Rometty attempted to put a positive spin on the numbers by underlining a shift in focus at IBM to new areas, such as cloud, security and analytics.
“We are making significant progress in our transformation, continuing to shift IBM’s business to higher value, and investing and positioning ourselves for the longer term," she said.
IBM chief financial officer Martin Schroeter cited IBM's partnership with Apple to push its hardware into businesses, claiming keen interest from companies already.
"Through our Apple partnership we released the first 10 MobileFirst for iOS solutions in the fourth quarter, with more to come by the end of this quarter focused on healthcare, energy and utilities," he said during an earnings call to discuss the results.
"We’ve seen strong customer interest, and this partnership is another example of how we're helping enterprise clients transform their business models and sources of value."
IBM appears committed to innovation and research, despite the decline in revenues. The company topped the charts for patents awarded in 2014 for the 21st year in a row with more than 7,500.
SAP reported on Tuesday that overall profits had declined, despite its cloud sales passing €1bn.
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