Report: IBM CEO Promises Growth After Big Changes

(RTTNews) - IBM is poised for growth despite a "rocky time" of late, Virginia Rometty, chief executive tells the New York Times.

In interview published Sunday, Rometty insists the firm will turn the corner thanks to its new investment in cloud computing.

Last month, IBM reported its first quarter profit fell 21 percent from last year, hurt by lower revenue as well as a hefty workforce rebalancing charge.

However, significant changes to the company will soon bear fruit, Rometty told NYT ahead of IBM's annual meeting with investor analysts.

"We are transforming this company for the next decade. That is not a one-year job, not when you're a hundred billion-dollar company," she said.

"We are making progress, and we just need to keep moving with speed."

Earlier today, IBM announced it has completed the acquisition of Silverpop, a privately held software company based in Atlanta, Georgia. Financial terms of the deal were not disclosed. With the acquisition, more than 8,000 organizations around the world now use IBM's Enterprise Marketing Management tools