IBM quarterly revenue declined for the third quarter in a row

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The world's largest provider of computer services, International Business Machines, reported in the first quarter that it had reduced revenue by 5% in annual terms to $18 billion 180 million. US IBM revenue declines for the third quarter in a row. During the earnings period, its net profit also decreased by 5%, reaching $1 billion 590 million. Adjusted earnings in the amount of 2 dollars 25 cents per share slightly exceeded economists ’forecast of 2 dollars 22 cents per share. In the field of cloud and cognitive technologies, revenue was $5 billion, down 2%. The revenue of the Global Business Services division remained at the level of February, while the indicator of the Global Technology Services division fell by 7%. The drop in revenue was also recorded in the hardware and software segment. Here the figure has decreased by 11%. On Tuesday, IBM shares dropped 2.5% in price during additional trades.

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