Initial Focus on Regulated Industries Using Hybrid Cloud
Adobe, IBM and Red Hat announced a strategic partnership to help accelerate digital transformation and strengthen real-time data security for enterprises, with a focus on regulated industries. The intent of the partnership is to enable companies to deliver more personalized experiences across the customer journey, driving improved engagement, profitability and loyalty.
As companies undergo their digital transformations and move core workloads to the cloud, the entire C-suite is facing a re-framing of their roles to meet customer demands - all while keeping security front and center. Chief Marketing Officers and Chief Digital Officers - particularly those working in regulated industries such as banking and healthcare - are finding that with the emphasis on data-driven marketing, they are now becoming stewards of critical enterprise and customer information. For these executives, the need to protect data while delivering meaningful customer experiences is paramount.
IBM Establishes Industry Cloud Advisory Council -- IBM continues investment in security with new capabilities; Launches IBM Research Cloud Innovation Lab
IBM (NYSE: IBM) today announced that several global banks including BNP Paribas, one of Europe's largest banks, will join a growing ecosystem of financial institutions and more than 30 new technology providers adopting IBM Cloud for Financial Services. Today's news also marks a significant milestone in IBM's collaboration with Bank of America, with the availability of the IBM Cloud Policy Framework for Financial Services. The IBM Cloud Policy Framework for Financial Services establishes a new generation of cloud for enterprises with common operational criteria and streamlined compliance controls framework specifically for the financial services industry, allowing IBM's growing financial services ecosystem to transact with confidence.
Accelerated Cloud Revenue Growth; Gross Margin Expansion; Strong Balance Sheet and Liquidity Position
Highlights for the second quarter include:
- GAAP EPS from continuing operations of $1.52
- Operating (non-GAAP) EPS of $2.18
- Revenue of $18.1 billion, down 5.4 percent (down 1.9 percent adjusting for divested businesses and currency)
- Total cloud revenue of $6.3 billion, up 30 percent (up 34 percent adjusting for divested businesses and currency)
- Red Hat revenue up 17 percent (up 18 percent adjusting for currency), normalized for historical comparability
- GAAP gross profit margin of 48 percent, up 100 basis points; Operating (non-GAAP) gross profit margin of 49 percent up 160 basis points
- Net cash from operating activities of $15.1 billion and free cash flow of $11.5 billion, over the last 12 months
'Our prudent financial management in these turbulent times enabled us to expand our gross profit margin, generate strong free cash flow and improve our liquidity position," said James Kavanaugh, IBM senior vice president and chief financial officer. "We have the financial flexibility to continue to invest in our business and return value to our shareholders through our dividend policy.'
IBM Services and CBRE, the largest commercial real estate services company in the world, are expanding their long-term relationship to provide technology support services for CBRE's clients at select data center facilities it manages
"A new CBRE offering called Smart Maintenance is the latest addition to their existing suite of Converged Data Center Services. Powered by IBM Services, it leverages IBM's AI, augmented reality technologies and deep analytics to provide vendor-agnostic, predictive and reactive hardware maintenance for CBRE's data center clients' technology assets.
As part of the agreement, IBM will work with CBRE technicians as an on-site extension of IBM's Remote Technical Support. CBRE technicians intend to diagnose and maintain IT hardware from a wide range of manufacturers, leveraging IBM's augmented reality and Watson enabled AI technologies while being supported by IBM's global platform, which includes 57 call centers worldwide, tens of thousands IT support specialists and 585 parts centers carrying 1.3 million parts..."
Maverick uses AI capabilities from IBM Watson to help provide quick answers to veterans about a wide array of benefits topics
"Texas Land Commissioner and Chairman of the Veterans Land Board, George P. Bush, announced the official launch of the VLB virtual assistant, fondly named, Maverick.
Using IBM Watson, the virtual assistant is the first of its kind for the agency and will provide Veterans with faster access to answers to help them access the benefits they've earned. From VLB home improvement loans to questions on Texas Veterans Homes, Maverick will provide the responsiveness needed in these unique times..."
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