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Tuesday, 04/18/2017 8:08:15 PM

Tuesday, April 18, 2017 8:08:15 PM

IBM Misses Estimates in 20th Straight Quarterly Sales Drop

So much for Powers comeback...

"IBM’s revenue fell short of analysts’ projections, marking a 20th consecutive quarterly decline as growth in new businesses like cloud services and artificial intelligence failed to make up for slumping legacy hardware and software sales.

That sales miss, the first in more than a year, could temper estimates for a return to revenue growth by early 2018. For years, Chief Executive Officer Ginni Rometty has been investing in higher-growth areas and moving away from older products like computers and operating system software. Even as she has shed units to cut costs and made acquisitions to bolster technology and sales, the legacy products are still a drag."

https://www.bloomberg.com/news/articles/2017-04-18/ibm-misses-estimates-in-20th-straight-quarterly-revenue-decline