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IBM posts drop in sales for 13th consecutive quarter

  • Technology giant IBM has posted a 13.5% drop in revenue to $20.8 billion and a 17% fall in net profit to $3.5 billion in the second quarter. The company has reported a drop in sales for the 13th straight quarter.

    The performance is being attributed to its decision to steer away from the hardware business, and a strong American dollar. Ginni Rometty, the IBM chief executive, said the firm was continuing to “transform our business to higher value and return value to shareholders”.

    Tagged as: technology giant, IBM, net profit, second quarter results, hardware business, Ginni Rometty, IBM chief executive, business news