IBM revenue falls for the 13th straight quarter
International Business Machines Corp reported its 13th consecutive fall in quarterly revenue on Monday, as it continued to shed low-margin businesses and the strong dollar also weighed on Big Blue’s results.
Consolidated net income dropped to $3.45 billion, or $3.50 per share, for the second quarter ended June 30, from $4.14 billion, $4.12 per share a year earlier.
Revenue fell 13.5 percent to $20.81 billion, the company said. (Reporting by Abhirup Roy in Bengaluru; Editing by Simon Jennings)