http://www.bloombergview.com/articles/2016-05-03/are-tech-giants-really-making-money-on-the-cloud
"IBM, by contrast, lumps so many different businesses into its "Technology Services & Cloud Platforms" segment -- it even includes some hardware sales -- that its $7.4 billion in revenue in the latest reported quarter allows it to claim leadership in the cloud, though industry experts say that isn't accurate."
(And look at the chart in the article too).