<p>IBM reported its second quarter fiscal 2013 earnings on Wednesday night, with numbers that aren't particularly impressive. Yet there is a light at the end of the tunnel for IBM and it's likely in the cloud.</p><p>For the quarter, IBM reported revenue of $24.9 billion, which is a 3 percent year-over-year decline. Net Income was reported at $3.2 billion for a 17 percent decline over the second quarter of 2012.</p><p>Part of IBM's woes come from a slump in its hardware business. IBM's Systems and Technology unit revenues came in at $3.8 billion for the quarter, which is an 11 percent decline. One area where IBM is being hit hard is with its Power Systems which had a 25 percent year-over-year revenue decline. Read the full story at Datamation: IBM Wins Huge Outsourcing Deal as Hardware Revenues Slip</p><p>Sean Michael Kerner is a senior editor at InternetNews.com. Follow him on Twitter @TechJournalist.</p><p><a href="http://www.internetnews.com/itmanagement/ibm-wins-multi-billion-outsourcing-deal-as-hardware-revenues-slip.html">Keep reading...</a></p>