BENGALURU: International Business Machines Corp (IBM) posted a bigger-than-expected drop in revenue and cut its full-year profit forecast, as a stronger US dollar accentuated weakness in demand from China and emerging markets.
It was the 14th quarter in a row that IBM has posted a reduction in revenue, as the world’s largest technology services company gets rid of low-margin businesses, but has so far failed to make up the shortfall with newer initiatives in the more lucrative area of cloud computing.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
