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IBM says SEC will investigate how it reports cloud revenues |
August 01, 2013
IBM is the subject of a probe by the U.S. Securities and Exchange Commission into how it reports revenue related to its cloud-computing business, the vendor revealed Wednesday.
“In May 2013, IBM learned that the SEC is conducting an investigation into how IBM reports cloud revenue,” the company said in a filing with the SEC. “IBM is cooperating with the SEC in this matter.”
“IBM’s reporting of cloud revenue is the result of a rigorous and disciplined process,” IBM spokesman Ed Barbini said via email on Wednesday. “We are confident that the information we have provided has been consistently accurate.”
Further details of the investigation weren’t available.
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Link: http://www.pcworld.com/article/2045672/ibm-says-sec-is-investigating-how-it-reports-cloud-revenues.html#tk.rss_all
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