IBM reported fourth-quarter revenue of $22.5 billion, up 4 percent (up 1 percent adjusting for currency).
There was a GAAP net loss of $1.1 billion from continuing operations, including a one-time charge of $5.5 billion associated with the enactment of U.S. tax reform.. Non-GAAP operating revenue was $4.8 billion.
"Over the past several years we have invested aggressively in technology and our people to reposition IBM,” said James Kavanaugh, IBM senior vice president and chief financial officer. "2018 will be all about reinforcing IBM's leadership position in key high-value segments of the IT industry, including cloud, AI, security and blockchain."
Fourth-quarter cloud revenues increased 30 percent to $5.5 billion (up 27 percent adjusting for currency).
IBM said its cloud revenue over the last 12 months amounted to $17.0 billion, including $9.3 billion delivered as-a-service and $7.8 billion for hardware, software and services to enable IBM clients to implement comprehensive cloud solutions.
