IBM has reported its worst quarterly revenue in 14 years as income from newer services, such as cloud and mobile computing, failed to offset declines in its traditional businesses.
ADVERTISEMENTIBM’s shares slumped after it reported its worst quarterly revenue in 14 years.
Income from newer services, such as cloud and mobile computing and technology using artificial intelligence, failed to offset declines in its traditional businesses, like hardware.
International Business Machines, which is the world’s largest technology services company, suffered its 16th straight quarter of revenue decline – down by 4.6 percent to $18.68 billion (16.43 billion euros) in the first quarter.
Its forecast for second-quarter profit also disappointed the financial markets.
