(FierceElectronics) IBM beat revenue estimates for the second quarter of 2021, increasing revenue for the quarter by about 3% to $18.7 billion, compared to the same quarter in 2020.
IBM CEO Arvind Krishna attributed much of the growth to a post-pandemic rebounding of business activities and the general economy.
On an earnings call, Krishna discussed recent achievements–like the company’s unveiling of 2-nm chip technology in May–and near-term market opportunities at length, but also took time to discuss the company’s quantum computing innovations and how they could translate to real business value for IBM customers.
“Quantum is an area of incredible promise slated to unlock hundreds of billions of dollars of value for our clients by the end of the decade,” he said, according to the Motley Fool earnings transcript. “To help business and society reap the benefits of quantum computing, we have put a road map in place to build 1,000-plus qubit computer by 2023.”
Krishna added, “We are forging a series of major partnerships to advance the business and science of quantum computing and post quantum encryption. This quarter, we have announced we’ll join forces with the University of Tokyo in Japan, the STFC Hartree Centre in the United Kingdom and the Fraunhofer Institute in Germany. This builds on the partnership we announced last quarter with the Cleveland Clinic.”