IBM Shares Slide As Revenue Drops For 15th Straight Quarter

By Markets MarketWatch Pulse

Shares of International Business Machines Corp. dropped in Tuesday's extended session after the technology giant reported its revenue fell year-on-year for a 15th straight quarter. IBM said its fourth-quarter earnings fell to $4.46 billion, or $4.46 a share, from $5.48 billion, or $5.51 a share, a year earlier. Excluding charges and items, Big Blue would have earned $4.84 a share. Revenue shrank to $22.06 billion versus $24.11 billion. Analysts surveyed by FactSet had forecast earnings of $4.81 a share on revenue of $22.09 billion. IBM shares fell 1.7% in after-hours trading.

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