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IBM Hit by Rare Sales Decline in Software Units

IBM Hit by Rare Sales Decline in Software Units, Posts Disappointing Quarterly Revenue
IBM is preparing to split itself into two public companies.
By Reuters | Updated: 23 January 2021 10:45 IST
IBM is preparing to split itself into two public companies
Highlights
Revenue from IBM s cloud-computing business rose 10 percent
Sales from IBM cloud and cognitive declined 4.5 percent
IBM missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty.
The 109-year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data. ....

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IBM revenue disappoints as software sales mark rare decline

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(Reuters) - IBM Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty.
The 109-year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data.
Revenue from its cloud-computing business rose 10% to a record $7.5 billion in the fourth quarter, with IBM saying it is confident of returning to sales growth in 2021 and expected revenue to grow in mid-single digits after the separation. ....

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IBM revenue disappoints as software sales mark rare decline - Netscape Money & Business

IBM revenue disappoints as software sales mark rare decline - Netscape Money & Business
netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.

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IBM sales decline across all units, sending shares tumbling

International Business Machines Corp. reported quarterly revenue that missed analysts’ estimates, signaling Chief Executive Officer Arvind Krishna’s turnaround plan will take more time to pan out. Sales fell 6.5% to US$20.4 billion in the three months ended Dec. 31, the Armonk, New York-based company said Thursday in a statement. That was below the US$20.75 billion analysts had forecast, on average, and marked the 10th consecutive quarter with no year-over-year increase in revenue. The shares fell in extended trading. ....

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IBM Shares Tumble After Another Quarterly Revenue Decline

IBM Shares Tumble After Another Quarterly Revenue Decline
Meanwhile, total cloud revenue increased 10 percent to $7.5 billion, the most revenue from cloud yet for IBM.
Bloomberg | Jan 22, 2021
Brody Ford (Bloomberg) International Business Machines Corp. shares fell the most in 10 months after the company reported a greater sales decline in the fourth quarter than analysts had expected, signaling Chief Executive Officer Arvind Krishna’s turnaround plan may take more time.
Sales fell 6.5% to $20.4 billion in the three months ended Dec. 31, the Armonk, New York-based company said Thursday in a statement. That was below the $20.75 billion analysts had forecast, on average, and marked the 10th consecutive quarter with no year-over-year increase in revenue. ....

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