Feeds

SEC: We won't slap IBM over its cloud revenue reporting

Nothing to see here, says Big Blue - and regulator agrees

Bridging the IT gap between rising business demands and ageing tools

IBM has announced that it has avoided any regulatory action over the way it reports its revenues from cloud computing after the US Securities and Exchange Commission completed its investigation.

The company said in a filing that it had been notified that the market authority wasn’t planning any action over its cloud business.

“Based on the information to date, the Division of Enforcement does not intend to recommend any enforcement action by the Commission against IBM,” it said.

Big Blue said last summer that the SEC was probing its cloud division, although neither the firm nor the authority revealed exactly what aspects of the way it was reporting its financial results the commission was looking into.

IBM said at the time that it was “confident that the information we have provided has been consistently accurate”. However, the company did change how it reported its cloud results after it revealed the investigation.

Before the SEC started its probe, IBM used to report how much the cloud portion of its revenues had grown but didn’t break down how much of the takings were from cloud delivered as a service and how much was from other cloud offerings.

Cloud computing is frequently offered as a service, but IBM also builds private clouds for customers. That complicates what the cloud actually entails accounting-wise, where the technology for customers’ private clouds could be included in either cloud or software, or even hardware, for example. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.