IBM reports marginal dip in quarterly revenue


IBM beats third-quarter estimates

FBN’s Nicole Petallides reports on IBM’s third-quarter earnings.

International Business Machines Corp's <IBM.N> quarterly revenue slipped again as weak demand in the company's technology services business outweighed growth in its strategic areas that include cloud and security services.

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The company's net income fell to $2.73 billion, or $2.92 per share, in the third-quarter ended Sept. 30, from $2.85 billion, or $2.98 per share, a year earlier.

Revenue fell 0.4 percent to $19.15 billion.

IBM's revenue has declined for nearly six years as the company continues to exit some legacy businesses, while bolstering its cloud services.

(Reporting by Pushkala A and Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)

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