This dinosaur isn’t extinct yet
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In the age of cloud computing, it's easy to forget that IBM (NYSE: IBM) still sells its hulking mainframe systems. Following IBM's fourth-quarter earnings report, it's clear that the mainframe business is not only surviving but also thriving.
Here's an incredible fact IBM CFO Jim Kavanaugh disclosed during the earnings call: IBM's mainframe business recorded its best fourth quarter revenue in more than 20 years. Revenue soared 61% year over year, adjusted for currency, driving a 17% increase in the infrastructure segment.
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My first IBM mainframe ...
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