IBM Sinks As Revenue Declines For 14th Straight Quarter

By Sue ChangMarketWatch Pulse

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.

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