Just more smoke and mirrors and creative bucketizing & the analysts are wising-up to it.
https://www.bloomberg.com/news/articles/2020-03-10/ibm-says-it-s-no-3-in-cloud-revenue-analysts-stick-to-google
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If IBM leaders were running Amazon, they would count all the revenue from Amazon's online bookstore as "cloud revenue" because... you know... it is the revenue from their service running "on the cloud".
And, if IBM leaders were running Microsoft, they would count as cloud revenue all the money from Windows and Office licenses installed on people's PCs because... you know... it is the revenue from their "hybrid cloud" products running "on-premise".