IBM reports marginal dip in quarterly revenue

FAN Editor

International Business Machines Corp’s <IBM.N> quarterly revenue slipped again as weak demand in the company’s technology services business outweighed growth in its strategic areas that include cloud and security services.

Continue Reading Below

The company’s net income fell to $2.73 billion, or $2.92 per share, in the third-quarter ended Sept. 30, from $2.85 billion, or $2.98 per share, a year earlier.

Revenue fell 0.4 percent to $19.15 billion.

IBM’s revenue has declined for nearly six years as the company continues to exit some legacy businesses, while bolstering its cloud services.

Continue Reading Below

(Reporting by Pushkala A and Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)

Leave a Reply

Next Post

Why Shares of VirnetX Holding Corp. Tumbled Today

What happened Continue Reading Below Shares of patent-holding company VirnetX Holding Corp. (NYSEMKT: VHC) tumbled on Tuesday one day after it disclosed that it was awarded about $440 million in a patent case against Apple (NASDAQ: AAPL). The federal judge in the case ruled that Apple’s on-demand VPN and FaceTime […]

You May Like