IBM third-quarter revenue falls, but tops forecasts on cloud, analytics growth

Growth sector: Cloud revenue jumped 44% compared with a 30% rise in the second quarter.

International Business Machines Corp posted better-than-expected third-quarter revenue on Tuesday, helped by growth in the company's cloud and analytics businesses.

Under chief executive Ginni Rometty, the technology services company has shifted towards more profitable areas, such as cloud services, artificial intelligence, analytics, and security while trimming its traditional hardware and services businesses.