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IBM reports marginal dip in quarterly revenue
(Reuters) - 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.
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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