IBM revenue beats estimates as shift to cloud pays off

International Business Machines Corp's quarterly revenue beat analysts' expectations as the company's shift to high-growth areas such as cloud-based services begins to yield results. IBM also stood by its full-year forecast for adjusted earnings of at least $13.50 per share, dispelling any concerns about the impact from Britain's vote to leave the European Union. "Investors were a little bit nervous about the guidance, and they'll find a little relief that the company maintained that, despite so