IBM forecasts full-year profit above estimates on cloud growth

The logo for IBM is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid/File Photo

BENGALURU: International Business Machines Corp forecast full-year profit above market expectations on Tuesday after reporting surprise growth in quarterly revenue, boosted by its high-margin cloud computing business, sending its shares up more than 4%.

Over the past few years, Chief Executive Officer Ginni Rometty has been trying to shift the company's focus to the cloud through acquisitions and also by selling some of IBM's legacy businesses.