https://techcrunch.com/2021/10/21/red-hat-continues-to-grow-but-ibms-struggles-continue/

IBM has been in the midst of a strategy shift with a focus on hybrid cloud and AI since Arvind Krishna was promoted to CEO in last year. Red Hat, the software company it purchased for $34 billion in 2018 has been at the center of it all. With the company reporting earnings yesterday, the financial performance was pretty bleak, but at least Red Hat continues to grow at a brisk pace.

Overall the company announced revenue of $17.62 billion for the quarter, which came in below analysts’ expectations of $17.77 billion, according to a CNBC report. On the bright side, it grew at a very modest 0.3% year over year. That may not sound like much, but positive revenue has been hard to come by for Big Blue in the last decade.