(Reuters) - International Business Machines Corp reported a 4.6 percent fall in quarterly revenue, hurt by a strong dollar and muted IT spending amid global economic uncertainty.
Revenue declined for the 16th straight quarter, falling to $18.68 billion in the first quarter ended March 31 from $19.59 billion a year earlier.
Net income fell to $2.01 billion, or $2.09 per share, from $2.33 billion, or $2.35 per share, a year earlier.
(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app