Valdas London based head of technology during the day, writer at night. Valdas writes about finance, economy, and technology. London based head of technology during the day, writer at night. Valdas writes about finance, economy, and technology.
Despite the ongoing pandemic and the economic and operational challenges it continues to bring, Rackspace successfully managed to increase its revenue ($1,990.9 Billion 9 month in 2020 vs $1,811 Billion in 2019).
The profitability isn’t the only concern for the company in its products division. Its cash flow statement shows that for the first half of the year, net income has dropped from $4,561 billion in 2019 to only $1,281 billion in 2020.
IBM will require large capital expenditures on R&D if it wants to catch up with more significant market players, however relentless outsourcing at the helm of the previous CEO, Ginni Rometty, could have contributed to the decline of its once strong R&D culture.