IBM Sees 4.6% Drop in Quarterly Revenue

Earnings Reuters

International Business Machines Corp reported a 4.6 percent fall in quarterly revenue, hurt by a strong dollar and muted IT spending amid global economic uncertainty.

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Revenue declined for the 16th straight quarter, falling to $18.68 billion in the first quarter ended March 31 from $19.59 billion a year earlier.

Net income fell to $2.01 billion, or $2.09 per share, from $2.33 billion, or $2.35 per share, a year earlier.

 

(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)