IBM misses quar­terly rev­enue es­ti­mates

Muscat Daily - - BUSINESS -

IBM missed es­ti­mates for quar­terly rev­enue, with sales in a key unit de­clin­ing for the sec­ond con­sec­u­tive pe­riod.

Sales in the com­pany’s tech­nol­ogy ser­vices and cloud plat­forms seg­ment dropped 5.1 per cent from the same pe­riod a year ear­lier, even though ex­ec­u­tives had said in April that they ex­pected key con­tracts to come through in the quar­ter. To­tal rev­enue fell to US$19.3bn, IBM said.

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