IBM achieved a net income of 5.74 billion U.S. dollars in 2021, an increase from the 5.59 billion U.S. dollars recorded in 2020. After experiencing a steady increase of net income over roughly a decade up to 2013, the company’s performance over the past eight years has been somewhat uneven. Some of this can be attributed to a quickly evolving market environment. IBM is transforming its business following an industry wide change of digital transformation, shifting away from being a hardware, software, and services company, towards becoming a cognitive solutions and cloud platform company. In 2016, IBM changed its segment reporting to reflect this directional modification, and realigned the software portfolio.
Adjusting to the era of cloud computing
IBM is now focusing on hybrid and multi-cloud, as well as artificial intelligence (AI) to better align its portfolio to market demands, emphasizing strong integration between the two subjects. This combination is exemplified by IBM’s 34 billion U.S. dollar acquisition of AI open-source software company Red Hat that was completed in mid-2019. Other significant acquisitions include the data analytics and management services company Truven Health Analytics, and cloud object storage system company Cleversafe. IBM is aggressively expanding into cloud computing and data analytics, though it faces strong competition with cloud providers Alphabet and Amazon.
IBM net income worldwide from 1999 to 2021
(in billion U.S. dollars)
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IBM. (March 7, 2022). IBM net income worldwide from 1999 to 2021 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 08, 2022, from https://www.statista.com/statistics/265004/ibms-net-income-since-1999/
IBM. "IBM net income worldwide from 1999 to 2021 (in billion U.S. dollars)." Chart. March 7, 2022. Statista. Accessed August 08, 2022. https://www.statista.com/statistics/265004/ibms-net-income-since-1999/
IBM. (2022). IBM net income worldwide from 1999 to 2021 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 08, 2022. https://www.statista.com/statistics/265004/ibms-net-income-since-1999/
IBM. "Ibm Net Income Worldwide from 1999 to 2021 (in Billion U.S. Dollars)." Statista, Statista Inc., 7 Mar 2022, https://www.statista.com/statistics/265004/ibms-net-income-since-1999/
IBM, IBM net income worldwide from 1999 to 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/265004/ibms-net-income-since-1999/ (last visited August 08, 2022)