Wednesday July 15, 2020

IBM sales fall for 16th consecutive quarter

Shares fell more than 5% as earnings showed it still struggling with new product growth

19th April, 2016
IBM reported its worst revenue in 14 years

IBM forecast second-quarter profit that fell short of analysts’ projections, signalling its multi-year effort to become a purveyor of cloud products and technology using artificial intelligence won’t soon stop its four-year sales slump.

About 38 per cent to 39 per cent of the company’s full-year earnings forecast of at least $13.50 per share will come in the first half, chief financial officer Martin Schroeter said on Monday. That projects to about $2.78...

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