IBM Sinks As Revenue Declines For 14th Straight Quarter

Shares of International Business Machines Corp. slid in Monday's extended session after the technology giant reported its revenue fell year-on-year for a 14th straight quarter. IBM said its third-quarter earnings declined 14% to $3 billion, or $3.01 a share, while revenue shrank 14% to $19.28 billion. Excluding charges and items, Big Blue would have earned $3.34 a share. Analysts surveyed by FactSet had projected earnings of $3.31 a share on revenue of $19.64 billion. For 2015, the company projected earnings per share of $13.25 to $14.25. IBM shares dropped 3.9% in after-hours trading.