IBM reports worst revenue in 14 years, shares slide

People walk past an IBM logo during the Mobile World Congress in Barcelona, Spain February 25, 2016. REUTERS/Albert Gea

International Business Machines Corp reported its worst quarterly revenue in 14 years as results from newer businesses including cloud and mobile computing failed to offset declines in its traditional businesses, sending shares down nearly 5% in extended trading. 

Revenue of the world's largest technology services company fell 4.6% to US$18.68bil (RM72.68bil) in the first quarter, but beat analysts' average estimate of US$18.29bil (RM71.15bil).