International Business Machines Corp. ’s Virginia Rometty is still looking for a sales turnaround more than four years into her tenure as chief executive.
The Armonk, N.Y., company on Monday reported first-quarter revenue of $18.68 billion, down 4.6% as the company’s products have become increasingly under threat by the move to computing services delivered over the Internet. The company has now posted revenue declines for four years straight.
The computing giant said that net income fell 13.5% to $2.01 billion, or $2.09 a share. Excluding charges, profit was $2.35 a share. Analysts had expected adjusted earnings for the March 31-ended quarter, of $2.09 a share, according to a survey by Thomson Reuters. Revenue came in above Wall Street’s expectation of $18.29 billion
http://www.wsj.com/articles/ibm-profit-falls-as-revenue-declines-again-1461010786