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IBM report drop in sales

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IBM report drop in sales

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IBM has reported a drop in sales for the 13th consecutive quarter. The world’s largest technology services company saw revenue drop 3.5 percent to 20.8 billion dollars while net profit fell 17 percent to 3.5 billion dollars.

The company is going through transition and has been selling businesses such as low-end servers and cash machines to focus on high-growth areas.

Revenue from what the company calls “strategic imperatives” rose about 20 percent but the new businesses have so far failed to make up for revenue lost to those that have been sold.