Baidu beat Wall Street estimates for the first quarter of 2021, reporting a 25% bump in revenue of about $4.38 billion during an earnings call on Tuesday. IBES data from Refinitiv predicted a revenue of about $4.2 billion for Q1, according to Reuters, but the company has invested heavily in artificial intelligence and its cloud business, leading to a 70% year-on-year growth of its non-advertising revenue. Herman Yu, CFO of Baidu, said during an earnings call that Baidu Core saw revenue growth of 34% year over year and that the company continues to "invest heavily in sales, R&D and operations to support the rapid growth of our AI-powered business." The company has faced pressure in recent years from major rivals like Alibaba and ByteDance, forcing them to expand beyond advertising revenue and diversify with more projects in cloud services, smart transport technology, and artificial intelligence. Despite the increasing competition, Baidu still brought in $2.48 billion in online marketing revenue, a 27% jump year-over-year.
When EY Global Chairman and CEO Carmine Di Sibio broke bread with IBM Chairman and CEO Arvind Krishna last July at a luncheon meeting, the two companies were more "frenemies" than partners. It was not a great relationship," said Di Sibio. "We were more competing than we were friends." That all changed when Krishna laid out IBM's new partner ecosystem charge that was taking hold in the wake of IBM's blockbuster acquisition of Red Hat. "The message I got at lunch was IBM was changing, [going through a] transformation, and the Red Hat acquisition was a big piece of this," he said. Di Sibio was impressed and as a result has made a big bet on Krishna and IBM. Now, the New York-based $37.2 billion global consulting powerhouse is aiming to drive $1 billion in revenue from the IBM partnership over the next few years. Di Sibio said he has been heartened by the speed at which Krishna is driving the transformation at IBM. "IBM notoriously has been, I'll say, moving slower," he said. "I do think they have changed, and they are changing. I have confidence they are going to move fast." The Red Hat deal, in fact, has changed the "culture" at IBM and the ecosystem strategy for the better, said Di Sibio. "Their change in strategy really enabled us to have a different type of relationship," he said. Key to building a strong partnership has been Krishna's technology savvy as a leader, his partnership commitment and the trust that has developed between the two executives, said Di Sibio. "Arvind is pretty technical," he said. "I think he is the right choice for where their strategy is going as they move forward." Since that lunch meeting, EY and IBM have combined on a joint go-to-market plan centered on the IBM Financial Services Cloud, combining EY's financial consulting muscle with IBM's cloud prowess. The two companies also launched just two months ago EY Diligence Edge, an AI-enabled M&A due diligence platform hosted on IBM Cloud and supported by IBM Watson Discovery. EY had opportunities to use different cloud providers for EY Diligence Edge but chose IBM because of its hybrid cloud strategy and Watson AI technology as a "differentiator," said Di Sibio. He said the IBM technology is helping win M&A customers for EY. "I think Arvind is bringing IBM back to being an innovative technology company based on hybrid cloud," he said. The EY partnership is just one piece of Krishna's bold bet on partners with the company's biggest go-to-market change in three decades as part of his "maniacal focus" to make IBM the No. 1 provider of hybrid cloud and AI. "I think it's the biggest change we have made in our go-to-market [model] in my living memory," said Krishna, who started his career at IBM in 1990 as a researcher at its Thomas J. Watson Research Center. "If you think about how we pay our people and how we have got clarity on the partners, it is the single biggest change in 30 years on the go-to-market.
BERLIN, Nov 21 (Reuters) - German data mining software firm Celonis said on Thursday that it had raised $290 mln in a Series C funding round, putting a $2.5 billion valuation on the company that has been compared with enterprise application giant SAP . The funding round was led by Arena Holdings and investors included Ryan Smith, the founder of customer experience specialist Qualtrics that was bought by SAP for $8 billion a year ago. Celonis, based in Munich and New York, runs a cloud-based service that uses artificial intelligence to mine data and optimise business processes, serving customers including Siemens, 3M, Airbus and Vodafone. "We are in a market that shows enormous momentum," co-CEO and co-founder Bastian Nominacher told Reuters, adding that Celonis would invest the funds raised in its global sales and customer service and in enhancing its cloud platform. The funding round brings total investments into Celonis to $370 million.
German data mining software firm Celonis said on Thursday that it had raised $290 mln in a Series C funding round, putting a $2.5 billion valuation on the company that has been compared with enterprise application giant SAP . The funding round was led by Arena Holdings and investors included Ryan Smith, the founder of customer experience specialist Qualtrics that was bought by SAP for $8 billion a year ago. Celonis, based in Munich and New York, runs a cloud-based service that uses artificial intelligence to mine data and optimize business processes, serving customers including Siemens, 3M, Airbus and Vodafone. "We are in a market that shows enormous momentum," co-CEO and co-founder Bastian Nominacher told Reuters, adding that Celonis would invest the funds raised in its global sales and customer service and in enhancing its cloud platform. The funding round brings total investments into Celonis to $370 million.
IBM's third quarter revenue missed expectations as its cognitive solutions and technology services and cloud platforms units saw declines from a year ago. Big Blue reported earnings of $2.94 a share on revenue of $18.8 billion, down 2 percent from a year ago. Non-GAAP earnings were $3.42 a share. Wall Street was expecting IBM to report third quarter earnings of $3.40 a share on revenue of $19.1 billion. IBM has been heavily focused on growing artificial intelligence as a business.
It's now a Fall ritual for me: emerge from the haze of summer, walk the kids to school and jump on the 34th Street crosstown over to Jacob Javits Convention Center. Once I get there, I badge up and join all my Big Data buddies who've come to town for Strata Data Conference New York, to show off what they did on their summer vacations. The other part of the ritual is to collect all the press releases and briefing notes and put together a summary of the news, including a few announcements from vendors who weren't even at the show. This post constitutes the 2018 edition of that summary. Typically, after so many briefings (I had 15 this year), some common themes emerge.
Artificial intelligence has become a sort of secret weapon in the battle to build the best cloud service platform. Google Cloud Platform is currently the underdog, trailing both Amazon Web Services and Microsoft Azure. But Google is betting robust AI will give it the edge it needs to catch up. At the annual Google Cloud Next conference which kicked off July 24 in San Francisco the company unveiled a series of AI-based product releases and enhancements for its analytics and machine learning tools, additional applications on G Suite, and new IoT products. Earlier this week, Google parent company Alphabet reported its Q2 earnings, which were ahead of Wall Street's expectations.
Amazon is the exception to nearly every rule in business. Rising from humble beginnings as a Seattle-based internet bookstore, Amazon has grown into a propulsive force in at least five different giant industries: retail, logistics, consumer technology, cloud computing, and most recently, media and entertainment. The company has had its share of missteps -- the expensive Fire phone flop comes to mind -- but is also rightly known for strokes of strategic genius that have put it ahead of competitors in promising new industries. This was the case with the launch of cloud business AWS in the mid-2000s, and more recently the surprising consumer hit in the Echo device and its Alexa AI assistant. Today's Amazon is far more than just an "everything store," it's a leader in consumer-facing AI and enterprise cloud services. And its insatiable appetite for new markets mean competitors must always be on guard against its next moves. As the biggest online retailer in America, the company accounts for 5% of all retail spending in America, and the company has been publicly traded for two decades. While its market capitalization has swelled recently, so too have expectations. Wall Street banks like Morgan Stanley expect Amazon to continue growing at a rate that no company its size has ever done before: 16% average compound growth in sales through 2025. If Amazon were able to satisfy the lofty goals, it would be "the most aggressive expansion of a giant company in the history of modern business." Understanding the many-headed beast that is Amazon is no easy feat, especially because Amazon is far less transparent than its peers. As the Times has written, "It isn't just secretive, the way Apple is, but in a deeper sense, Jeff Bezos' e-commerce and cloud-storage giant is opaque. Amazon rarely explains either its near-term tactical aims or its long-term strategic vision. By all accounts, Amazon is just getting started in newer initiatives like cloud services, artificial intelligence, and logistics. Given Amazon's enormous breadth, we won't be covering every aspect of its business. Jeff Bezos, the company's founder and long-time CEO, first hatched the idea for Amazon while working on Wall Street at the hedge fund and tech private equity group D. E. Shaw & Co. For a while, it was bootstrapped as an internet bookstore with Bezos' money along with contributions from friends and family. In 1995, Bezos raised nearly $1M in small checks from 20 local angels with a typical check size between $30k and $50k. Among those angels, Nick Hanauer, Eric Dillon, and Tom Alberg (of Madrona Venture Group) were brought on as company advisors.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads. Available on AWS and Azure, Ocean9 solutions de-risk and accelerate digital transformation initiatives with instant provisioning, full elasticity, strict security, right sized systems and high availability of up to 99.99%. Ocean9 is also first to market with heavy state container technology: Our customers can therefore deploy the heavy state SAP HANA in-memory database in a production grade container environment with the ability to seamlessly fall back to a virtualized environment within minutes. Learn more about how Ocean9 redefines cloud enterprise infrastructure at www.ocean9.io.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named "Bronze Sponsor" of SYS-CON's 20th International Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a single platform to drive unprecedented simplicity in the data center. Customers can start with a base infrastructure and scale to multi-site and multi-geo infrastructures with predictable economics and performance. With open and secure virtual networking, elastic storage, application orchestration and SaaS management, Cloudistics is the blueprint for application-optimized on-premises cloud infrastructures.