International business Machines Corporation (IBM) released earnings today. The maligned company unsurprisingly beat both revenue and earnings estimates. But the bar was low since the company has faced a declining top line for years due to an extended restructuring process that has taken years. These efforts were topped off by the 2019 purchase of Red Hat to accelerate the company’s transition to the cloud. Red Hat is now a part of IBM’s Cloud & Cognitive Services. Today, IBM has remade itself from a provider of information technology services and equipment to one focused