IBM (IBM), which recently announced its fiscal 2Q16 earnings, stated that its cloud services revenue grew 30% to $3.4 billion while the cloud-as-a-service run rate grew 50% to reach an annual run rate of $6.7 billion. Commenting on Microsoft's fiscal 2016 performance, Satya Nadella, Microsoft's CEO, stated, "This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations. The Microsoft Cloud is seeing significant customer momentum and we're well positioned to reach new opportunities in the year ahead."