IBM earnings beat estimates on cloud strength; shares up 6%

IBM has jettisoned some of its legacy business to focus on cloud computing, an area that has seen a lot of action in recent years as companies ramp up their digital shift to control costs and boost efficiency.Revenue from the cloud business, previously headed by IBM's new boss Arvind Krishna, rose 30% to $6.3 billion.Krishna took over as chief executive officer from Ginni Rometty in April, while appointing former Bank of America Corp'stop technology executive Howard Boville as the new head of IB