Manufacturing & Supply Chain

Revenues at IBM drop by more than expected

 Breaking News

Revenues at IBM drop by more than expected

Revenues at IBM drop by more than expected
October 20
10:12 2015
Spread the love

International Business Machines last night posted a bigger-than-expected drop in revenue and cut its full-year profit forecast.

This comes after a stronger US dollar accentuated weakness in demand from China and emerging markets.

It is the 14th quarter in a row that IBM has posted a reduction in revenue.

The world’s largest technology services company is in the middle of getting rid of low-margin businesses, but has failed to make up the shortfall with newer initiatives.

IBM, which gets more than half its business from overseas, said overall revenue from continuing operations was cut 9% by a strong US dollar, which is up about 17% from a year ago against a basket of currencies.

The company’s total revenue fell 13.9% to $19.28 billion in the quarter, below analysts’ average forecast of $19.62 billion.

About Author

admin

admin

Related Articles

Follow me on Twitter

New Subscriber

    Subscribe Here



    Advertisements
























    National Manufacturing Conference & Exhibition 2020

    NIBRT Springboard Success Stories