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IBM reports worst revenue in 14 years, shares slide

April 19, 2016 by · Leave a Comment 

International Business Machines Corp reported its worst quarterly revenue in 14 years as results from newer businesses including cloud and mobile computing failed to offset declines in its traditional businesses, sending shares down nearly 5 percent in extended trading. Revenue of the world's largest technology services company fell 4.6 percent to $18.68 billion in the first quarter, but beat analysts' average estimate of $18.29 billion. It was the 16th straight quarter of revenue decline for IBM.

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IBM reports worst revenue in 14 years, shares slide