IBM Security Revenues Hit $1 Billion Per Quarter
IBM Security revenues surged 81 percent to $1 billion in Q2 2018, the technology giant disclosed as part of the company’s quarterly earnings statement today.
In a press release, IBM did not reveal which segments of its security business fueled the strong growth. We’re checking in on the company’s earnings call for potential details, and we’ve reached out to the company for deeper perspectives (stay tuned for potential article updates).
IBM Security’s prowess extends across multiple market segments. The company is a Top 100 MSSP, ranked in Gartner’s Magic Quadrant for Managed Security Services, and a major software provider to enterprises, security operations centers (SOCs) and large MSSPs.
IBM X-Force Cybersecurity Command Centers
Among the potential revenue drivers: The company has X-Force Command Centers worldwide. The centers:
- Are staffed by approximately 1,400 IT security professionals who leverage cognitive technologies to address cybersecurity events.
- Process roughly 1 trillion cyber incidents each month and protect 4,500 customers across 133 countries.
IBM shared those figures in mid-2017, so it’s a safe bet they’ve all grown significantly since that time.
Some of IBM’s revenue growth may involve fairly recent acquisitions. The company acquired:
- Agile 3 Solutions in 2017 to help CXOs “better visualize, understand and manage risks associated with the protection of sensitive data.”
- IRIS Analytics in 2016 to gain real-time analytics that combats payment fraud.
- Resilient Systems in 2016 to gain an incident response platform.
IBM Security Partnerships
Recent IBM Security partnerships have included deals with:
- Thycotic Secret Server’s privileged access management (PAM) solution.
- Multiple MaaS360 Security App Partners.
- Carbon Black for endpoint detection and response.
We’ll be poking around for more details about IBM’s Security revenues.