You are here: Home » Reuters » News
Business Standard

IBM revenue misses estimates for first time in five quarters


(Reuters) - International Business Machines Corp reported a bigger-than-expected drop in revenue for the first time in five quarters, hurt by weak demand in its technology services business.Shares of IBM, whose revenue has now fallen for 20 quarters in a row, were down 3.7 percent at $163.71 in trading after the bell on Tuesday.The company said revenue fell 2.8 percent, to $18.16 billion in the quarter ended March 31 from $18.68 billion a year earlier.Analyst on average were expecting revenue of $18.39 billion, according to Thomson Reuters I/B/E/S. With demand for IBM's legacy hardware and ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, April 19 2017. 01:52 IST