IBM Corp. stated Wednesday that it was cooperating with US regulators on a probe of its cloud revenue. The U.S. Securities and Exchange Commission will be looking into how the company reported its revenue from its computing business. The company learned about the investigation last May and made the disclosure in the filling of its quarterly report with the SEC.

In addition, the company reiterated its April 30 disclosure. The disclosure stated that it was investigated by the Department of Justice for allegations of illegal activity done by a former employee in Poland. It also covered transactions that occurred in Argentina, Ukraine, and Bangladesh.

In March 2011, the company agreed to pay US$10 million so as to resolve SEC charges. The charges concerned improper gifts that company purportedly gave South Korean and Chinese government officials.

IBM is a multinational technology and consulting corporation, which was part of a billion dollar cloud computing sector. Bessemer Venture Partners reported the combined value of the top publicly-traded cloud computing companies to exceed US$100 billion.

The company reported its non-GAAP EPS to be at least US$16.90 and full-year GAAP diluted EPS to be at least US$15.08. Non-GAAP income increased 3% to US$4.3 billion or US$3.91 per share. This value excluded a US$1 billion restructuring charge. Meanwhile, GAAP net income decreased 17% to US$3.2 billion or US$2.91 per share.